The Waitrose Effect

An article written for the BBC looks at whether having a Waitrose in your town is the ultimate badge of endorsement.

A new opening in the Gloucestershire town of Chipping Sodbury, this summer, has seemingly led to house price rises and it's being suggested it's a function of having a Waitrose nearby !

Additionally a Sunday Times article identified the town as a budding property hot spot, adding that "the opening of Britain's most middle-class supermarket can only push values higher".

A local firm of solicitors has even offered a special "Waitrose conveyancing" discount ahead of the store's opening.

Savills, the estate agents, have found that house prices in areas where there was a store were 25% higher than the UK average house price. In London, this rose to 50%.

Ian Bradberry, branch manager for an estate agent in Northants, talks about the Waitrose effect saying "there has definitely been more interest in properties around where it is located."

But the article also examines whether it is Waitrose that is following affluent customers, or whether it is the branch that makes the area more desirable to live in.

If you need a specialised conveyancer to buy, sell, remortgage or process a transfer of equity call our Oxford Conveyancing Solicitors now on 0845 603 0708 or send an email to answers@nationalsolicitors.com

Lee Chadwick LLP

Oxford Conveyancing Solicitors

Tel: 0845 603 0708