Living near a supermarket can seriously boost the value of your home, with one particular chain adding nearly £40,000.

Having a store close to where you live typically increases the value by £22,000 but the ‘Waitrose effect’ nearly doubles this premium, a study from Lloyds Bank suggests.

Homes near a Waitrose are worth £38,666 or 10 per cent more than those in the surrounding area.

Properties near a Sainsbury's or a Marks & Spencer command a premium of around £27,000, while those near a Tesco are worth around £22,000 more than homes in the wider area.

While the lift in value is lower, living near discount chains Aldi and Lidl can also help boost the value of a property according to the findings.

Lloyds 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.

Mike Songer, Lloyds’ mortgage director, said: "Our findings back-up the so-called 'Waitrose effect'. There is definitely a correlation between the price of your home and whether it's close to a major supermarket or not.

"Our figures show that the amount added to the value of your home can be even greater if located next to a brand which is perceived as upmarket.

“Of course, there are many other drivers of house prices beyond having a supermarket on your doorstep, but our research suggests that it is a strong factor."

Here are the average house prices in postal districts located near a particular supermarket, followed by the average price in the surrounding town, and the premium people pay to live near a particular supermarket, in percentage and cash terms, according to Lloyds Bank:

Waitrose

  • £425,428
  • £386,763
  • 10%
  • £38,666

Sainsbury's

  • £316,056
  • £288,117
  • 10%
  • £27,939

Marks & Spencer

  • £342,077
  • £314,895
  • 9%
  • £27,182

Tesco

  • £272,288
  • £250,216
  • 9%
  • £22,072

Iceland

  • £257,055
  • £237,021
  • 8%
  • £20,034

Co-op

  • £238,448
  • £220,545
  • 8%
  • £17,904

Morrisons

  • £222,462
  • £211,904
  • 5%
  • £10,558

Asda

  • £207,771
  • £202,745
  • 2%
  • £5,026

Lidl

  • £236,127
  • £232,201
  • 2%
  • £3,926

Aldi

  • £196,502
  • £195,169
  • 1%
  • £1,333