Homes near Aldi sell for more, research shows

September 25, 2016 by Brendan O'Neill

Property Market

According to recent data, Aldi is about to add value to the property in Welwyn Garden City.

The recent study by My Home Move, a provider of conveyancing, revealed that homes in Welwyn Garden City will increase in value by £5,000 once a new Aldi store has been completed. The new store is expected to open early in 2018, and will be located at Bessemer Road.

The research revealed that areas where other Aldi supermarkets had opened had experienced increased property values. The budget store planned to build about 80 stores in 2016 around the UK. The German chain opened 11 stores between February and April, with properties in all locations increasing in value. Homes in Chipping Norton rose in value by 133%.

The CEO of My Home Move, Doug Crawford, said that the research had found that people buying a home tend to look at the local amenities and shops in their proximity. Crawford believes that it is no surprise that the fast-growing store is having an impact on property values.

The research did find that one area experienced a fall in property values, and that was Reading. However, there are already two supermarkets in the area, which may have had an impact. The study looked at property prices during the three months before and after the Aldi store had been built.

Facilities in the area can have an impact on property prices, especially shops and schools. Before making an offer on a property, make sure that you have checked local amenities so that you will have all you need locally. Your CeMAP qualified mortgage adviser will be able to help you to check the details.