Everyone in Scotland will have an idea of their favourite go-to supermarket for their weekly grocery shop.

Some might prefer the budget friendly prices of Aldi or Lidl, or they might enjoy going to Waitrose or M&S for the wider selection of fresh fruit and vegetables on offer.

With such a variety of supermarkets to choose from, many of us might not actually give a second thought to how our favourite supermarkets could affect our decision when purchasing a new home or flat.

A new study by the CIA Landlord Insurances has found that if your home shares the same postcode as certain supermarkets then it could actually be increasing the value of your home.

What may seem like a bizarre concept to some is actually more commonly known as 'the Waitrose effect', which is a reflection of supermarket density onto the prices of real estate across cities in the UK.

The research found that based on certain Scottish postcodes associated with each location, the local house price and the quantity of each supermarket in the surrounding area shows a difference in price from the average for that city divided by the number of supermarkets to show the average price difference per local supermarket.

Waitrose and M&S see property prices sky rocket in Glasgow and Edinburgh.
Waitrose and M&S see property prices sky rocket in Glasgow and Edinburgh.

The study looked at a list of supermarkets per location in two of Scotland's biggest cities - Edinburgh and Glasgow - and found that certain supermarkets do have an influence on the overall value of your home.

So, if you are on the hunt for a new home, then it may be worth checking what supermarkets are near by just in case - especially if there is a more high-end supermarket.

Most chains cause an increase of about £1,000, however, two of the most well-known higher tier supermarkets such as Waitrose and Mark’s & Spencer, see property prices in the same postcode skyrocket.

For example, a home in Edinburgh will see house prices increase by about £14,531.35 if it has a Waitrose, with Glasgow postcodes seeing an increase of around £6,362.72.

However, for Glasgow, it is M&S that sees the highest increase, with properties being valued at around £14,270.84.

Iceland takes the second place for Edinburgh properties, with properties increasing by around £1,652.21.

Out of all the supermarkets, it might come as a surprise to some that homes sharing the same postcode as a Co-op could see the smallest increase with an average of just £388.42.

On average, Scottish properties sharing the same postcode as a supermarket will see your home value increase by £2,318.24 in Edinburgh and £2,392.34 in Glasgow.

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