Lidl 'effect' boosts property prices

Lidl 'effect' boosts property prices
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Research by online estate agents Housesimple.co.uk has found that average property prices in postcodes which have the budget supermarket are on average 19% higher than neighbouring postcodes that don’t .

Housesimple.co.uk looked at the location of Lidl supermarkets in some of the major towns and cities across the UK and found that, in 80% of cases, the average property price in the Lidl postcode was higher by an average of almost £29,000.

For example, according to Housesimple.co.uk figures, the average house price in the Reading postcode RG45, which has a Lidl supermarket, is £447,428. This compares to the neighbouring postcode RG12, which doesn’t have a Lidl, where average house prices are £274,381. 

It’s well documented that when a Waitrose or Marks & Spencer opens in an area, property prices are boosted as buyers are attracted to the area. But it seems there is also a ‘Lidl effect’, as the growing popularity of the budget supermarket draws buyers to an area.

Alex Gosling of online estate agents Housesimple.co.uk, said: “There’s no longer a stigma attached to shopping at budget supermarkets like Lidl and Aldi, and that is clearly reflected in average house prices.”

 

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