If you are selling your home and you don’t live near a supermarket you could be unknowingly cutting the pool of buyers in half.
New research has revealed that when buying a new home, 49% of prospective buyers want to be within a 15 minute walk of a supermarket.
According to a YouGov survey by property website TheHouseShop.com, post offices (26%), train/underground stations (25%) and pubs (23%) were also popular.
Despite the huge rise in online alternatives to the high street, the majority of people still choose their new home based on the local essentials nearby, with just 25% of respondents saying they would not need anything in particular within walking distance of the property.
Pubs (23%) were seen as more important than banks (20%), schools (17%) and places of worship (7%).
The results showed that those aged-55 and over were by far the most likely to demand a physical bank (26%) and post office (36%) within a 15 minute walk of their new home.
In comparison, just 16% of 25 to 34-year-olds said they would need a bank nearby, and just 20% said the same of a post office.
Another key difference between the generations was the demand for a local train/underground station. Just 20% of those aged 55 and over said they would need a station nearby, while 38% of millennials (18 to 34-year-olds) said the same, making a train/underground station the second most important amenity for millennials.
Perhaps unsurprisingly, another difference between the generations was the importance placed on local schools, with just 7% of 55s and over requiring a school nearby, compared to 28% of 25 to 34-year-olds.
Nick Marr, co-founder of TheHouseShop.com, said: “The results clearly show that despite the rise of online alternatives to the High Street, physical local amenities still play a huge part in the decision-making process for home-hunters. The fact that half of Brits would not consider moving to a property without a supermarket within walking distance is striking, and clearly demonstrates that anyone selling or letting a property should make sure that they sell the local area and amenities, as well as the property itself.”
“It was also interesting to see the different demands of millennials versus their baby boomer parents, with younger home hunters placing far more importance on local transport links and pubs. Older generations were far less demanding of nearby essentials in general, with one in four over-55s saying they would not need anything in particular located within walking distance.”
Research from Lloyds Bank last year that living near a supermarket can add an average of £22,000 to the value of your home.
Also known as the “Waitrose effect”, premium supermarket brands add the most to nearby house prices.
Properties close to a Waitrose store receive an average boost of £38,666 – or 10% more than in the surrounding area.
Properties near a Sainsbury’s and Marks and Spencer command the next highest house price premiums of around £27,000, while those near Tesco are worth around £22,000.
Living near an Asda can add around £5,000 to the value of your home, while a Lidl will add a premium of £4,000 and an Aldi store £1,300.
