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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