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

£1,938,138

W10, North Kensington

£814,309

58.0%

SE21, Dulwich, Dulwich Village

£1,055,156

SE26, Sydenham

£474,283

55.1%

N6, Highgate

£1,509,700

N19, Upper Holloway

£719,417

52.3%

NW11, Golders Green

£1,244,667

NW2, Cricklewood, Dollis Hill

£687,382

44.8%

NW1, Camden

£1,124,937

N7, Holloway

£627,730

44.2%

SW12, Balham

£906,914

SW16, Streatham

£528,044

41.8%

W4, Chiswick

£1,132,232

W3, Acton

£672,020

40.6%

SE1, Borough, Waterloo

£846,657

SE17, Walworth

£522,370

38.3%

N1, Angel, Hoxton

£830,672

E2, Bethnal Green

£526,092

36.7%

SE24, Herne Hill

£862,878

SE5, Camberwell

£545,607

36.8%

NW6, Maida Vale, Kilburn

£910,329

NW10, Willesden

£583,095

35.9%

SW4, Clapham

£873,498

SW2, Brixton

£572,345

34.5%

E8, Dalston, Hackney

£634,149

E15, Stratford, West Ham

£417,182

34.2%

SW4, Clapham

£873,498

SW9, Stockwell

£599,302

31.4%

N5, Highbury

£916,479

N16, Stoke Newington

£671,984

26.7%

SW12, Balham

£906,914

SW17, Tooting

£671,255

26.0%

E11, Leytonstone

£550,550

E10, Leyton

£408,395

25.8%

N1, Angel, Hoxton

£830,672

E8, Dalston, Hackney

£634,149

23.7%

NW1, Camden, Regents Park

£1,124,937

NW5 Kentish Town

£897,801

20.2%

N8, Hornsey, Crouch End

£767,500

N4, Finsbury Park

£620,275

19.2%


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