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What effect does a Waitrose have on property prices?

Alex Johnson

bfe747ddee1f1ca5ec739cd970792f221cda400d 300x225 What effect does a Waitrose have on property prices?Quite a lot, you won’t be surprised to find, according to a new piece of work by Savills who say that if you buy close to a Waitrose it could add 24% to the average price of a property in that county.

The biggest premium – no surprises here – was in London, at 50%, followed by the North of England, where the premium stands at more like a third. The full top 20 hotspots list is:

1. Old Brompton Road, London
2. Knightsbridge, London
3. Bayswater, London
4. Edgware Road, London
5. Tottenham Court Road, London
6. Altrincham
7. Ponteland
8. High Holborn, London
9. Gerrards Cross
10. Parsons Green, London
11. Jesmond
12. Cowbridge
13. Knutsford
14. Harborne
15. Chiswick, London
16. Clifton
17. Alderley Edge
18. Fulham Palace Road, London
19. Ashbourne
20. Stratford Upon Avon

“Our analysis identifies a very clear house price premium in Waitrose store locations,” says Sophie Chick, Savills research analyst. “It’s difficult to state with certainty that a Waitrose store opening will boost prices, but it is clear that buyers should expect to pay significantly more for their home if they wish to have a Waitrose store on their doorstep.”

House price rise of 0.3%
Prices rose 0.3% in April, mostly due once again to London growth, according to Hometrack which says demand in the capital has grown three times faster than supply over the last three months. Outside London, demand rose across all regions for the third month in a row and for the last three months supply of new housing has failed to keep pace with demand as April saw only a 2.8% increase in new homes coming to the market. Their ‘time on the market’ indicator has dropped by almost a week since the beginning of the year, from 9.9 weeks in January to 9.1 weeks in April.

Royal Wharf goes on the market
Royal Wharf, one of central London’s largest development opportunities, is to be put on the market. It’s a mixed use development of 37 acres with extensive River Thames frontage in London’s Royal Docks. The 363,000 sqm development area will contain 3,385 homes, a new school, shops, offices and riverside restaurants to a population that is estimated to reach 10,000 on completion. Royal Wharf is to be sold by joint selling agents Knight Frank and Alan Selby & Partners.

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  • http://www.buytolet.com/ keith@buytolet.com

    It is more likely that Waitrose will place it’s stores in more affulent areas with people who can afford it. The data does not necessarily mean that building a Waitrose will increase prices in an area… It is a correlation not causation?

  • QuentinUK

    This is why people are so eager to have a Waitrose built near them. At the same time they will fight against a Tesco or a Sainsburys because of the sort of shoppers that get attracted to the area and the trolleys they leave on the kerb sides.

  • beenzontoste

    Yeah right, Ashley Road Poole.

  • peatstack

    As i left the coo-tescroseburysda and the ocados were very ripe when they fell off the elevated parking structure on to the diplomatic vehicle from the nation of databasia – where all reality is debased intentionally for a living; give us your postal code and we’ll change your life span. There is no data mining; we know nothing of you except everything relevant to your purchasing habits.

  • bristoled

    Don’t know about more affluent – more likely, people not paying enough tax.

  • http://www.buytolet.com/ keith@buytolet.com

    What does this have to do with Tax avoidance?

  • bristoled

    Only people with too much money can afford to pay Waitrose’s inflated prices.

    HMRC should interview their customers to find out why they have so much money and help stamp out tax avoidance

  • Newsbot9

    Ah yes, harass the mutual’s customers.


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