It has long been touted as an unassailable asset but now the perk of living within close proximity to a Waitrose supermarket has been quantified in figures.
Lloyds Bank compared the cost of homes in postal districts that have a national supermarket with property prices in the surrounding areas of towns, using Land Registry house price figures.
Out of ten supermarkets, unsurprisingly it was a Waitrose that added the most value, with Sainsbury's and M&S taking 2nd and 3rd spot, respectively. A Waitrose lifted property prices by 10% - converted in to cash as just over £38,000.
It does appear, however, that the convenience of a supermarket nearby - whatever the brand - does have a positive effect on property. Even budget grocers, such as Lidl and Aldi, can contribute to house price uplift, with 2% and 1% added to a home's value.
The closest Waitrose to London Residential is on Camden High Street. But as it's surrounded by many other brilliant stores, shops, bars and restaurants, it's hard to quantify if Waitrose alone is the defining factor when it comes to house prices.
Is it a chicken and egg scenario? Do already affluent areas attract a Waitrose or is a Waitrose the catalyst for an area's gentrification?
Having a Waitrose nearby can add an average of £38,666 to your house price, according to research by Lloyds Bank. House prices near the supermarket chain, a favourite with the aspirational middle class, are as much as 10% higher than the average of the wider area in which it is located.