The opening of a new Aldi supermarket could boost the value of local homes by £5,000, research by My Home Move, a conveyancing firm, has found.

It found the "Aldi effect" is pushing up the price of homes in locations up and down Britain, where new Aldi stores are popping up.

The change represents a 2.5pc rise in value on the average UK home, from £216,450 three months before the opening of a store, to £222,052 three months afterwards.

Despite Aldi once being seen as a dowdy and downmarket grocery outlet, it is now the UK’s sixth largest supermarket chain and is widely viewed as a haven for middle-class bargain hunters.

Of the eleven new stores which opened between February and April, nearly all locations saw an increase in property values, with prices in Chipping Norton, the then the constituency of former Prime Minister, David Cameron, rocketing by 133pc.