Near supermarkets, apartments much more expensive

Apartment in London Luxury prestigious index W9 £1300000

Property buyers in London are willing to pay 50% more for the closeness of a supermarket to their home

A well known truth good access to schools, transport hubs and prestigious streets is a significant factor in the cost of housing, significantly influencing the final price. But now the important factor is also considered and the proximity of prestigious supermarket.

New research has shown that buyers are willing to pay up to 25% extra for housing if their new home will be located near the supermarket “Waitrose” .

To such conclusion analysts of the international Department of the real estate company Savills, making a comparative analysis of real estate prices in areas where there was a supermarket “Waitrose” for the last 5 years. The researchers found that prices in the supermarket “Waitrose” is 25% more expensive.

London showed a price increase of near 50 % , followed by Northern England, where prices in the supermarket more expensive by about a third. More remote rural regions such as the southwestern part and the East of England did not demonstrate such a big difference, but it is possible in the already high average price for property in those regions.

Despite the fact that in London near supermarket “Waitrose” real estate prices by more than 50% higher than the average for London, a closer look shows a more diverse picture. Three quarters of supermarkets located in areas where the index of housing prices initially higher than the average for London. In some particularly expensive Central areas the price of residential property more than three times higher than the average price in London and reaches up to 327%. The reason, of course, not only the proximity of supermarkets. Therefore, to capture the influence of such criteria as the proximity of the supermarket is not possible.

Meanwhile, in areas where the largest in London shopping centres Westfield Shepherds Bush and Stratford housing prices sky-high.

20 places where is located supermarket “Waitrose” of residential property prices 40% higher than the average in this County. 9 of these places are in London 4 times in the list includes the district of Cheshire, Altrincham took the highest place in the list, showing price growth of 107%, close to supermarket.

Of course, to say with absolute precision how the price increase of residential property, if the next to open a supermarket “Waitrose” is impossible, however, buyers must understand that the apartment or house will have to pay a lot more if they want to see the supermarket “Waitrose” at the threshold of his home.

® Maxim Savitsky. 03.05.2013 g