It’s true. Our love for low cost grocery shopping has increased house prices in the neighbouring area. We might just look at expanding our property investment portfolio in these areas and stock up on cheap food whilst we’re in the area! Bargain!
According to recent research from Housesimple.co.uk, an online estate agency, living near to a discount supermarket such as Aldi or Lidl can actually boost house prices by almost £30,000. Lidl was the main focal point of this research, and the estate agent studied the location of the supermarket in major towns and cities across the UK. The results highlighted that 80% of the properties with the same postcode were higher by almost £30,000 in comparison to houses located in non-Lidl postcodes.
Don’t believe us? Well the research showed that house prices with the Reading postcode of RG45 and home to a Lidl, saw house prices reaching £447, 428. And in neighbouring postcodes such as RG12 where Lidl is nowhere to be seen, the house prices averaged at £274,381.
Of course, it’s natural that house prices will increase when there is a supermarket on your doorstep, but it looks like Lidl and Aldi have won the hearts of many Brits! We can’t imagine how much a house would cost if you lived next to Waitrose! Ouch!
The House Crowd always likes to ensure that our property investment projects are located near the local amenities, but we will keep the Lidl effect in mind for future projects.