HOMES close to a supermarket are worth £21,512 more on average than those in other nearby areas.

That’s according to research by Lloyds Bank which found that homes near to Waitrose supermarkets command the highest house price premiums.

The average price of a home close to a Waitrose is typically £36,480 higher than the wider town average. Meanwhile homes close to Marks and Spencer stores command the second highest premiums – costing on average £29,992 more than others nearby, followed by Sainsbury’s with a £26,081 premium.

Lloyds Bank researchers also found that discount supermarkets now cause house prices to rise rather than fall as they did previously.

Homes close to an Aldi, Lidl, Morrisons or Asda have grown in value by an average of 11 per cent or £21,000 since 2014 and properties near to a Lidl have seen an average price increase of £23,722.

Andy Mason, Lloyds Bank mortgages director, said: “With homes in areas close to major supermarkets commanding a premium of £22,000, the convenience of doing weekly shopping within easy reach may well be a pull for many homebuyers looking for good access to local amenities.

“The ‘Waitrose effect’ is clear; having a premium brand on your doorstep means buyers typically need to pay top prices. But the research also shows areas with ‘budget’ stores have, on average, seen the most rapid house price growth in recent years.

“There has been some suggestion that the likes of Lidl and Aldi are increasingly locating in more affluent areas where prices are already relatively high. Indeed, in 2014 house prices in areas with a Lidl were on average, £4,700 lower than in neighbouring areas; today they are £6,400 higher.”