Homes near Aldi supermarkets are increasing in value

Posted by AFN Staff Writers on 21st September 2016
Suburbs

A conveyancing firm has found the opening of a new Aldi supermarket in the UK can drive up nearby property values by £5,000 (approximately AUD $8, 500).

Between February and April 2016 Aldi opened eleven new stores in the UK and nearly all locations saw an increase in nearby property values. In one area, property values have increased by 133 per cent.

Chief Executive Officer of My Home Move conveyancing, Doug Crawford, said their research has shown a third of home movers in the UK choose their new property based on its proximity to shops and local amenities.

“As such we are not surprised that the recent popularity of Aldi, with its cheaper lines and award-winning products, has had a positive effect on the value of local homes,” he said.

Aldi is now the UK’s sixth largest supermarket chain.