Effect of new supermarket on house value?

TexasChainstoreMascara

Opinions please:

Apparently there is talk of a new Morrisons supermarket being built near to my house. Do you think that this would affect the value of the house positively or negatively?

The land is currently a dozen football pitches and an old social club. There has also been some building further up the road with a new lottery funded leisure facility.

Thanks for your time.

19lottie82

Value wise, I can't see it affecting it at all.

It might improve the saleability very slightly, but I wouldn't rely on it.

Paully232000

I suppose it depends on what you class as 'near to you'.
If i was looking at houses and a supermarket was a mile away I would think that is a good thing, but if a few yards away from my house with extra traffic from customers and deliveries all hours I would think that it was a negative and wouldnt even look at the house.

tBagpuss_2

Paully232000 wrote: »

I suppose it depends on what you class as 'near to you'.
If i was looking at houses and a supermarket was a mile away I would think that is a good thing, but if a few yards away from my house with extra traffic from customers and deliveries all hours I would think that it was a negative and wouldn't even look at the house.

I agree. It may also affect saleability short term as having a building site near by is offputting.

For me as a potential buyer, I would be considering thins such as where the traffic would be going, whether the floodlights in the car park will cause light pollution etc, so a lot would depend on how close it is, and how the roads etc are arranged.

However, there are likely to be those for whom having a supermarket in walking distance would be a bonus, so it may well be neutral in terms of value.

SailorSam

I'm about a mile maybe a bit less which is a nice walk to a big Tesco and think of it as convenient.
Right facing the store is a load of new build flats and houses which all seem to be sold, although like any other new builds seem to have 'For Sale' signs go up quickly. I don't think i'd want a 24hr store outside my window but others seem to think it's ok.

TexasChainstoreMascara

Thanks for your feedback.

The supermarket would be 500 metres up the road, but not visible from the house due to the road bending. It may actually improve traffic if through roads are built over what are the existing football fields, which is near to a motorway junction.

movilogo

There is a supermarket 700 m from my house (not visible) but a nice walking distance. In fact, I view it as a very positive point

I often just walk there. No hassle of parking (difficult in peak hours) and good especially when it snows and you can't drive.

It causes no problem to us as our house in a cul-de-sac and shoppers don't enter here.

I'd say it is a good thing and should up your house's value.

donfanatico

Are you in an urban area?

I cant really see it making any difference, shops open and close all the time roads and building are knocked down and rebuilt all the time, this is what you expect in a city

Paully232000

It is amazing what a difference even a few hundred metres makes from shops. We live at the closed end of a very long cul-de-sac with a Spar ( I realise that different scale of shop than a supermarket) at the entrance. I have read in the local newsletter that those houses right next to the Spar are complaining about the traffic, people parking outside there house going to the shops when the parking is full.
We are a two minute walk from the spar but I think it is excellent having it so near, but those who live right next door obviously do not think the same.

19lottie82

movilogo wrote: »

I'd say it is a good thing and should up your house's value.

Yes it's a good thing, but I really doubt it would increase the value of the property as such.

maas

I think it depends on the area and what the supermarket is replacing.

For example we used to have an old derelict block of HA flats and a vacant fire station just down the road. As soon as Tesco got planning permission to demolish it all and build a megastore and they were going to re-do all the roads etc, the estate agents were popping letters in all the houses asking if you're interested in selling because they knew the megastore would bring the area up. They're not stupid.

It depends on the area.