Residents living near Highbridge’s soon-to-open Aldi supermarket could see the value of their homes rising as a result, according to a new study.

A nationwide report by Lloyds Bank has found that homes in neighbourhoods across the UK with a Marks & Spencer, Sainsbury’s or Waitrose are most likely to command a higher than average price – but homes located near budget supermarkets have seen the biggest boost in value over the past four years.

Those near Aldi, Asda, Lidl, and Morrisons having gone up in value by an average 15% (£29,316) over the past four years, compared to 10% for all supermarkets.

Building work at Aldi’s store in Bennett Road, Highbridge is progressing well and the new store is due to open this summer.

Over the past four years, average house prices close to an Aldi grew by a fifth (20%, from £178,809 to £213,765), according to the study.

Andy Mason, mortgages director at Lloyds Bank, says: “This research clearly shows that there is a significant link between the convenience of a local supermarket and house prices.”

“The Waitrose factor has been known for some time and although the likes of Aldi can’t yet boost house prices in quite the same way, the research shows that all stores are now having a positive effect on local property prices.”

Homes near a Waitrose enjoy the biggest premium, selling for £43,571 (12%) more than average house prices in the neighbourhood, followed by properties close to a Marks & Spencer, with a premium of £40,135, and Sainsbury’s (£32,707). Homes close to a Tesco are worth over £21,369 more, followed by Co-op (£21,020). Homeowners living near a Lidl will find their properties could fetch an average of £5,411 more than properties nearby, it is claimed.

 
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