Opening A Local Branch Of Aldi Adds £5,000 To The Value Of Your House

The opening of a new Aldi supermarket could boost the value of local homes by £5,000, research by My Home Move, a conveyancing firm, has found.1aldiIt found the “Aldi effect” is pushing up the price of homes in locations up and down Britain, where new Aldi stores are popping up. Despite Aldi once being seen as a dowdy and downmarket grocery outlet, it is now the UK’s sixth largest supermarket chain and is widely viewed as a haven for middle-class bargain hunters.

Of the eleven new stores which opened between February and April, nearly all locations saw an increase in property values, with prices in Chipping Norton, the then the constituency of former Prime Minister, David Cameron, rocketing by 133%.

A separate study earlier this year by Lloyds bank found living near an Aldi could help to boost the value of nearby property by £1,333, indicating the supermarket’s credentials may be on an upward trajectory.