THE price of properties closer to Waitrose stores can receive a boost of more than £36,000 in terms of value, research suggests.

The “Waitrose Effect” can add £36,480 onto house prices, and Gwent’s only three stores are all located in Monmouthshire – Abergavenny, Caldicot and Monmouth – which incidentally has the highest average property values in south-east Wales.

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

Gwent has with seven stores – two in Newport and single stores in Chepstow, Cwmbran and Monmouth.

There is also an Marks & Spencer BP garage in Malpas Road and the outlet store in Ebbw Vale, but this is does not sell food.

Research from Lloyds Bank discovered that homes situated closer to supermarket chain can command £21,512 on average more than houses further away.

At the other end of the scale, the same research revealed that properties near to branches of Aldi can be less expensive, taking off £2,902 in value.

There are nine stores of the German discounter chain in Gwent – three in Newport as well as locations in Abergavenny, Blackwood, Caerphilly, Cwmbran, Ebbw Vale and Tir-y-berth.

Andy Mason, Lloyds Bank mortgages director, said: "With homes in areas close to major supermarkets commanding a premium of £22,000, 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.

"The 'Waitrose effect' is clear; having a premium brand on your doorstep means buyers typically need to pay top prices.

“But the research also shows that areas with 'budget' stores have, on average, seen the most rapid house price growth in recent years.

"There has been some suggestion that the likes of Lidl and Aldi are increasingly locating in more affluent areas where prices are already relatively high.

“Indeed, in 2014 house prices in areas with a Lidl were, on average, £4,700 lower than in neighbouring areas; today they are £6,400 higher."

The research from Lloyds covered homes in Wales and England and the 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 full list of premiums is: Waitrose – £36,480; Marks & Spencer – £29,992; Sainsbury's – £26,081; Iceland – £22,767; Tesco – £21,344; Co-Op – £20,687; Morrisons – £10,504; Lidl – £6,416; Asda – £4,117 and Aldi – minus £2,902.