Homebuyers can save up to 47% by looking next door to the UK’s priciest postcode
Published on: 27 July 2026 | 3 min read
- New research reveals how much less buyers could pay in postcodes neighbouring the UK’s most expensive locations.
- Homes in these neighbouring areas are 28% cheaper on average, with the biggest gap reaching 47% in the North East.
- Significant savings also seen in London, Scotland, Wales and Northern Ireland.
Homebuyers could save up to 47% by looking just beyond the boundaries of the UK’s most sought-after postcodes, according to new research from Lloyds.
The study compared the priciest postcode in each region with the cheapest neighbouring postcode that shares its border.
Across the country, it found that homes in these neighbouring areas cost 28% less on average. In many regions, the gap is even wider - showing how crossing into the next postcode can make a major difference to what buyers pay.
Which area offers the biggest saving?
North East
The biggest saving is found in the North East of England, where the region’s most expensive postcode is NE26. This encompasses the seaside town of Whitley Bay, where the average price is £304,022.
With its long stretch of golden beach and a vibrant leisure and dining scene, it’s no surprise that properties on the seafront here often command a premium.
However, head just next door to NE24 and the savings are significant. At its heart is the industrial port town of Blyth. With an expansive coastline and continued regeneration, the area is increasingly attracting buyers looking for both value and long-term growth potential.
With an average price tag of £162,075, homebuyers in NE24 could pay £141,947 less than in neighbouring NE26, a saving of 47%.
How much can be saved in each nation and region?
Here are the biggest savings to be had when buying next door to the nation’s most expensive postcodes.
|
Region |
Postcode |
Local areas |
Average price |
£ saving |
% saving
|
|---|---|---|---|---|---|
|
Region Eastern England |
Postcode AL5 |
Local areas Harpenden, Kinsbourne Green |
Average price £587,884 |
£ saving |
% saving |
|
Region Eastern England |
Postcode LU1 |
Local areas South Luton and surrounding areas |
Average price £351,742 |
£ saving £236,142 |
% saving 40% |
|
Region East Midlands |
Postcode NN12 |
Local areas Towcester and surrounding areas |
Average price £360,453 |
£ saving |
% saving |
|
Region East Midlands |
Postcode NN11 |
Local areas Daventry and surrounding areas |
Average price £300,112 |
£ saving £60,341 |
% saving 17% |
|
Region Greater London* |
Postcode NW3 |
Local areas Hampstead, Belsize Park and surrounding areas |
Average price £778,767 |
£ saving |
% saving |
|
Region Greater London* |
Postcode NW2 |
Local areas Cricklewood, Dollis Hill and surrounding areas |
Average price £546,348 |
£ saving £232,419 |
% saving 30% |
|
Region North East |
Postcode NE26 |
Local areas Whitley Bay, Seaton Sluice |
Average price £304,022 |
£ saving |
% saving |
|
Region North East |
Postcode NE24 |
Local areas Blyth and surrounding |
Average price £162,075 |
£ saving £141,947 |
% saving 47% |
|
Region Northern Ireland |
Postcode BT4 |
Local areas East Belfast (Sydenham, Belmont, Stormont) |
Average price £278,143 |
£ saving |
% saving |
|
Region Northern Ireland |
Postcode BT16 |
Local areas Dundonald and surrounding areas |
Average price £247,068 |
£ saving £31,075 |
% saving 11% |
|
Region North West |
Postcode WA14 |
Local areas Altrincham, Bowdon and surrounding areas |
Average price £403,621 |
£ saving |
% saving |
|
Region North West |
Postcode M31 |
Local areas Carrington, Partington |
Average price £280,616 |
£ saving £123,005 |
% saving 30% |
|
Region Scotland |
Postcode EH3 |
Local areas Central Edinburgh, including the West End |
Average price £374,650 |
£ saving |
% saving |
|
Region Scotland |
Postcode EH11 |
Local areas Gorgie, Stenhouse and surrounding areas |
Average price £299,315 |
£ saving £75,335 |
% saving 20% |
|
Region South East |
Postcode KT6 |
Local areas Surbiton, Tolworth |
Average price £625,840 |
£ saving |
% saving |
|
Region South East |
Postcode KT9 |
Local areas Chessington, Hook |
Average price £453,441 |
£ saving £172,399 |
% saving 28% |
|
Region South West |
Postcode BS8 |
Local areas Clifton, Hotwells and surrounding areas |
Average price £510,864 |
£ saving |
% saving |
|
Region South West |
Postcode BS20 |
Local areas Portishead, Pill |
Average price £385,281 |
£ saving £125,583 |
% saving 25% |
|
Region Wales |
Postcode CF64 |
Local areas Penarth, Dinas Powys, Sully |
Average price £342,753 |
£ saving |
% saving |
|
Region Wales |
Postcode CF63 |
Local areas Barry (including Cadoxton and Barry Docks) |
Average price £260,234 |
£ saving £82,519 |
% saving 24% |
|
Region West Midlands |
Postcode CV32 |
Local areas Leamington Spa (north) and surrounding areas |
Average price £392,988 |
£ saving |
% saving |
|
Region West Midlands |
Postcode CV35 |
Local areas Wellesbourne, Kineton and surrounding areas |
Average price £343,030 |
£ saving £49,958 |
% saving 13% |
|
Region Yorkshire and The Humber |
Postcode YO23 |
Local areas York South Bank and surrounding areas |
Average price £378,295 |
£ saving |
% saving |
|
Region Yorkshire and The Humber |
Postcode YO8 |
Local areas Selby and surrounding areas |
Average price £243,001 |
£ saving £135,294 |
% saving 36% |
How much can be saved in other parts of the UK?
London
In London, amongst the capital’s most expensive postcodes* in this analysis is NW3, covering Hampstead and Belsize Park. It’s one of the capital’s most desirable areas, offering a village feel, green open spaces and elegant period homes. These help push the average price up to £778,767.
But cross into neighbouring NW2 and the price picture changes. Taking in areas such as Cricklewood and Dollis Hill, it offers a more affordable entry point into north-west London, with a mix of period properties and new developments attracting first-time buyers and families alike.
With an average house price of £546,348, buyers here could pay £232,419 less compared to neighbouring NW3 - a saving of around 30%.
Scotland
In Scotland, the most expensive postcode is EH3, which covers central Edinburgh, including the West End. Known for its grand Georgian architecture, cultural landmarks and proximity to the heart of the city, homes here come with an average price tag of £374,650.
However, head just beyond its boundary to neighbouring EH11 and prices become markedly more affordable. Covering areas such as Gorgie and Stenhouse, this part of the city has long been popular with buyers looking for value within easy reach of Edinburgh’s centre, as well as ongoing regeneration and strong local amenities.
With an average price of £299,315, homebuyers here could pay £75,335 less compared to neighbouring EH3 - a saving of 20%.
Wales
In Wales, CF64 is the most expensive postcode, which includes Penarth, Dinas Powys and Sully. With its coastal views, attractive seafront and close links to Cardiff, it remains one of the most sought-after areas in the country, with average prices reaching £342,753.
Just next door is CF63, which covers Barry, including Cadoxton and Barry Docks. The area combines seaside living with more affordable housing, and has seen growing interest from buyers looking for value within commuting distance of the Welsh capital.
With an average price tag of £260,234, buyers here could pay £82,519 less compared to neighbouring CF64 - a saving of around 24%.
Northern Ireland
In Northern Ireland, BT4 is the most expensive postcode. This covers East Belfast, including Sydenham, Belmont and Stormont. The area is known for its leafy residential streets, strong transport links and proximity to both the city centre and the coast, helping drive an average house price of £278,143.
However, head just next door to BT16 and the savings are clear. At its heart is Dundonald, where buyers can still benefit from easy access to Belfast, alongside a range of local amenities and green space, but at a more accessible price point.
With an average property price of £247,068, homebuyers here could pay £31,075 less compared to neighbouring BT4 - a saving of 11%.
Amanda’s top tips for first-time buyers
Lloyds mortgage expert Amanda Bryden has built a career in the industry that spans almost 30 years. She started as a mortgage broker and has since filled a variety of senior roles across several of the country's biggest lenders.
Here’s what she suggests:
Do your research – Get familiar with the homebuying process. From getting an Agreement in Principle through to mortgage approval and completion, the Lloyds First-Time Buyer Hub includes free guides, and access to expert-led online sessions, to help explain the jargon and make things clearer.
Get advice – Speak to a mortgage professional early on, don’t wait until you think you’ve saved enough or found your dream home. They can help explain what you can afford, typical costs and what to expect along the way. You can often get video appointments at times that suit you.
Explore your options – It’s important to know what support is available. A mortgage expert will show you options you might not have considered and guide you on ways to build up the funds quicker. For example, low-deposit mortgages can make buying more affordable than you might think.
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