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Waitrose Opening Soon

Bromsgrove’s newest supermarket is set to open its doors for the first time this spring. Will the town benefit from what is known as “The Waitrose Effect”?

Studies have shown that the average house price gain from properties that are within a reasonable walking distance of the upmarket grocer stand at 25% in the UK, and as much as 50% in London. It's called "The Waitrose Effect".

In a recent study on house prices, it was found that a house in Amersham which has a nearby Waitrose typically costs £456,000. The average house price for Buckinghamshire is £360,000.

It's unclear whether the opening of a Waitrose triggers this rise in house prices, or that Waitrose simply open stores only in highly-affluent areas, but the direct correlation between the two cannot be ignored.

The original Waite, Rose & Taylor first opened in Acton, London in 1904. As it expanded into the Home Counties its reputation to grocer to the middle classes grew. It was bought by the John Lewis Partnership in 1937 and has gone from strength to strength.

Julia Simonds, manager of Andrew Grant Bromsgrove said “If you are looking into investing in property or moving where there is a Waitrose planning to open it could be a smart move; but it’s not the only consideration. Other factors affect property prices such as transport links, local amenities and good schools. Bromsgrove has all of these and so the opening of a Waitrose store can be considered as the icing on the cake.”

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