LIVING near a supermarket may boost a home’s value by around £22,000, according to research.

Lloyds Bank found homes within easy reach of a local supermarket command a premium of £21,512 on average compared with property prices in nearby areas.

Homes near a Waitrose were found to command the biggest cash premium – typically costing £36,480 more than average house prices in the wider town.

Properties close to a Marks & Spencer have the second highest premium, with homes worth an average of £29,992 more than homes further away, the research found.

Lloyds Bank compared average house prices in postal districts with a supermarket from a national chain with typical property values in the wider towns to calculate the price premium paid for homes located near supermarkets.

The research suggests that while living near a “premium” supermarket brand can help boost a property’s value significantly, homes located near a Lidl can be valued at £6,416 more on average than those in the surrounding area.

Home buyers who want the convenience of living near a supermarket but do not want to pay a big house price premium may want to consider focusing their search near an Aldi.

The research suggests that properties near an Aldi can be, on average, £2,902 less expensive than those in surrounding areas.

Andy Mason, Lloyds Bank mortgages director, said: “The convenience of doing weekly shopping within easy reach may well be a pull for many home buyers looking for good access to local amenities.”