Is the “Waitrose effect” waning?Home prices for homes near luxury stores are now slowly rising
- Property values are rising faster as you move away from Waitrose.
- For homes near Waitrose, home prices are usually up 16%.
- Houses far from Waitrose saw a high price increase of 23%
Living near Waitrose has long been considered desirable by homebuyers-and is often even said to lead to higher home prices.
However, new research shows that times are changing and the so-called “Waitrose effect” is not as widespread as it once was.
We found that as people moved away from towns and cities during the pandemic, asset values increased at a greater rate as they moved away from Waitrose.
House prices near Waitrose are usually up 16%, according to a new survey.
This is the first time this has happened and was claimed by real estate and data insight specialist TwentyCi.
Living near a luxury supermarket is still quite expensive.
The average price of a property within walking distance of Waitrose was £ 599,000 in the first three months of the year.
In contrast, homes 10 to 20 miles away from the nearest Waitrose store averaged £ 243,000.
However, the growth rate is another story. Homes far from Waitrose saw a 23% price increase from the first three months of 2019, while homes closer to Waitrose saw a 16% increase from the same quarter. ..
Colin Bradshaw of TwentyCi said: Towards the bustling town centres and cities, and the quieter green areas.
Pandemics have seen space competition between buyers as people turn to rural and coastal areas following several blockades.
Philip Stevens of real estate agent Antony Roberts said: ‘In fact, this tendency has nothing to do with Waitrose in particular.
“Waitrose supermarkets are generally near the town center and also have a train station. Such a central location has historically been in greater demand than the surrounding area.
“But this current trend probably reflects the fact that more people are working from home and not commuting to the office to the same extent, so properties far from the town center Prioritize the wider internal and external space provided.
“This changing lifestyle has long-term implications, but this trend can evolve again as companies encourage employees to spend more time in city-based offices. Premiums in the center of town may not be as important as in the previous “pre-pandemic”.
Property and data insight specialist TwentyCi states that the farther away you are from Waitrose, the faster the property values are rising.
Another survey last month suggests that buyers prefer to be near Tesco supermarkets.
In a Rightmove survey, we asked 2,023 people browsing online in August what their dream home would look like, where it was, and what they wanted at the front door.
As a result, the country’s dream home was identified, such as being near the sea and pubs and having four bedrooms.
It also includes offices where many workers are now a priority during a pandemic.
According to the real estate website, Tesco posted Waitrose, which is usually an indicator of desirable locations, but preferences vary from country to country.
It turns out that the supermarket most people want to live nearby is Tesco, but local preferences have revealed that the South favors Waitrose and Sainsbury’s victory in Yorkshire & Hamburg. .. Rightmove pointed out that the results could be distorted as Tesco is expanding its stores nationwide.
A Waitrose spokesman was asked to comment, but declined to respond.
Home prices for homes found near Waitrose are rising slowly
Source link Home prices for homes found near Waitrose are rising slowly