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Digsby

The Proximity To Waitrose Selling Point

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I've recently been feeling like I'm seeing more and more properties for sale with it's distance to Waitrose in their descriptions.

I did a keyword search on Zoopla and found 154 properties within a 40 mile radius of Bristol!

http://www.zoopla.co.uk/for-sale/property/bristol/?keywords=waitrose&radius=40

I even found a listing on Rightmove, which cracked me up, where the seller hadn't bothered to put which part of the country or town it is in the tagline, just "Nr Waitrose", as if there are buyers out there who don't care where they live, as long as Waitrose isn't too far away!

See for yourself:

http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E308&minPrice=230000&maxPrice=230000&displayPropertyType=houses&oldDisplayPropertyType=houses&numberOfPropertiesPerPage=50&googleAnalyticsChannel=buying

I don't know when the proximity to Waitrose became a selling point, sometime after only the middle classes could afford to buy I suppose, but it would appear to be becoming an increasingly important factor for potential buyers.

My advice is, is you are looking for a property for investment, look for somewhere within walking distance. Even better, if you can snap up a property near a planned Waitrose opening before it is built, you could find yourself sitting on a small fortune!

Edited by Digsby

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IMO it devalues the property because I don't want to live near a load of shopaholic brown nosers + I shop at LIDL because the food quality is better than Waitrose.

I often wonder if Apple secretively own because it's the same useless bunch of C**TS that buy overpriced crap from both.

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I've recently been feeling like I'm seeing more and more properties for sale with it's distance to Waitrose in their descriptions.

Anyone seen bottom-of-the-pile houses for sale mentioning their close proximity to Asda or the Poundshop?

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The "Waitrose snobbery/property price index" http://www.bbc.co.uk/news/magazine-24629300

"The effect has been studied, by estate agents at least. Savills's research indicated that house prices in areas where there was a store were typically 25% higher than the UK average. In London, there was a 50% premium in Waitrose postcodes".

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Correlation is not causation

Yep, Waitrose used to target the areas where house prices are highest, and more recently where there is a better density of people likely to pay their prices.

My local Waitrose is constantly extending its opening hours, which are now 7.30am to 9.30am and it is still heaving all of the time. Then again, so is the 99p Store and Wetherspoons pub on the next street and I don't think that they ever feature in EA details.

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Ha ha, I can't believe this is actually a studied effect, the thread was just fun poking. As a new Waitrose opened in April 2014 in the nearby town of Keynsham, I had a look at sold prices in the area.

From August 2013, mean prices were trending downwards until a low in Jan 2014 of £216,856, then a marked change in trend - in October the mean price was £305,547.

Of course correlation does not meant causation, and prices jumped in lots of areas during 2014, but HPI in Keynsham appears to have been running at way above the national average since Waitrose opened!

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