Waitrose is planning to open a new branch in the town’s Southwick Square later this year.
It is understood the new store will be a Little Waitrose convenience store – the first of its kind in the area.
Ollie Taylor, who co-owns Hove based estate agents Taylor Michael, said the presence of a Waitrose can contribute to a higher demand for homes, leading to a slight price increase.
“House prices can increase due to several factors when there is a Waitrose nearby,” he said.
Mr Taylor put this down to five factors.
“The first is one is desirability, a Waitrose is often associated with higher quality products and a better shopping experience,” he said.
“This can make the area more appealing.
“The next thing is perceived value, areas with premium grocery stores like Waitrose may be perceived as more affluent or desirable, which can attract buyers willing to pay more for homes in that location.”
“Another factor is amenities, having a supermarket nearby adds to the amenities of an area, making it more convenient for residents. This can enhance the overall quality of life and increase demand for housing in that area.
“Next, is market trends, real estate markets often react positively to the presence of popular retailers, as they can signal a thriving community.
“Buyers may be more inclined to invest in areas with established businesses.
Others in the sector also believe the news to be positive for people looking to sell.
Local property developer Gail Nari said: “A Waitrose opening could slightly impact property prices, but if it’s too close with no other supermarkets and the property was valued with this in mind, the value could decrease.
“This would have an impact of commercial devaluation and volume of traffic but within a ten minute walk for example it would have a positive affect on saleability but minimum on price.”
The new store in Southwick Square comes as part of Waitrose’s plans, announced in August 2024, to open 100 new convenience stores over five years, as part of a £1bn investment in new shops and refurbishments.
Currently, the nearest Waitrose branches to Southwick are at 130-134 Western Road in Brighton and at 121 Nevill Road in Hove.