Why should Londoners purchase next door to sought-after postcodes?

Why should Londoners purchase next door to sought-after postcodes?

Homebuyers in London could save hundreds of thousands of pounds by investing in less sought-after postcodes, according to research conducted by HouseSimple.com.

The online estate agent looked at data on the average property prices in 20 of the most sought-after postcodes in London.

Research found that property prices are on average 37.6% cheaper in adjacent postcodes, while flats are on average 28.9% cheaper.

Homebuyers could save on average 58% by purchasing property in North Kensington W10 instead of in neighbouring Notting Hill W11.

Alex Gosling, CEO of HouseSimple.com, said: “There will always be buyers who are happy to pay a premium for the privilege of living in one of London’s most in-demand postcodes.

“But for many of us it’s not worth paying thousands of pounds more just to say we live in W4 not W3.

“Instead, with a little bit of research, you could find a similar property, both in style and square footage, just over the border of a sought-after postcode, that is well within your budget.

“That way you can still enjoy the benefits of living close to your preferred area, but you’re paying a fraction of the price for a property.”

Potential savings by postcode:

Hot Postcode, Area

Avg property price (£)

Adjacent Postcode, Area

Avg property price (£)

% prices are cheaper in adjacent postcode

W11, Notting Hill


W10, North Kensington



SE21, Dulwich, Dulwich Village


SE26, Sydenham



N6, Highgate


N19, Upper Holloway



NW11, Golders Green


NW2, Cricklewood, Dollis Hill



NW1, Camden


N7, Holloway



SW12, Balham


SW16, Streatham



W4, Chiswick


W3, Acton



SE1, Borough, Waterloo


SE17, Walworth



N1, Angel, Hoxton


E2, Bethnal Green



SE24, Herne Hill


SE5, Camberwell



NW6, Maida Vale, Kilburn


NW10, Willesden



SW4, Clapham


SW2, Brixton



E8, Dalston, Hackney


E15, Stratford, West Ham



SW4, Clapham


SW9, Stockwell



N5, Highbury


N16, Stoke Newington



SW12, Balham


SW17, Tooting



E11, Leytonstone


E10, Leyton



N1, Angel, Hoxton


E8, Dalston, Hackney



NW1, Camden, Regents Park


NW5 Kentish Town



N8, Hornsey, Crouch End


N4, Finsbury Park



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