We all know the old saying when it comes to buying property – location location location! However, there may be a new issue to consider – Waitrose, Starbucks, McDonalds? Apparently, the chains in the vicinity of a property can have a huge impact of the value of a property, swinging the balance sheet by as much as 24%!
But what brand names should you be on the look-out for in your neighborhood?
Posh supermarket Waitrose never fails to impress, according to a survey from Lloyds Bank. The high-end chain can add a hefty 12% to the value of a property. Marks and Spencer provides a hike of 9%, suggesting that buyers crave the comforts of long-standing familiarity.
Starbucks is also a general crowd-pleaser, also hiking property prices by around 9% - seemingly people are prepared to pay that little extra for their coffee fix!
However, there are certain businesses that have the opposite effect as well… whilst a McDonald's can be just the ticket every now and again, having one on your doorstep can have an impact on property prices in the area, subtracting a whopping 24%!
Primark, the favoured haunt for bargain shoppers, can knock 23% off the value of a property, whilst Asda and Poundland can have an impact of 22% and 16% respectively.
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