Lloyds study shows up to 47% house‑price savings by buying in neighbouring postcodes
Lloyds Bank analysed mortgage‑approval data for UK home sales completed in 2025 and compared the most expensive postcode in each region with the cheapest adjoining postcode. Across the country, homes in the neighbouring postcodes were on average 28 % cheaper, with some gaps far wider. The biggest saving was in the North East: the NE26 postcode covering Whitley Bay had an average price of £304,022 while neighbouring NE24 (Blyth) averaged £162,075 – a difference of £141,947, or 47 %. In London, the premium NW3 postcode (Hampstead and Belsize Park) averaged £778,767 versus neighbouring NW2 (Cricklewood and Dollis Hill) at £546,348, saving £232,419 (about 30 %). Scotland’s EH3 (central Edinburgh) averaged £374,650 compared with EH11 (Gorgie and Stenhouse) at £299,315, a £75,335 (20 %) reduction. Wales showed a similar gap: CF64 (Penarth, Dinas Powys, Sully) averaged £342,753 versus CF63 (Barry) at £260,234, a saving of £82,519 (around 24 %). Amanda Bryden, head of mortgages at Lloyds, said the research “highlights how much value can sit right next door” and that a modest shift in location could help first‑time buyers get on the property ladder while staying close to jobs, transport links and amenities.
Entities: Amanda Bryden · Blyth · Edinburgh (EH3) · Lloyds Bank · London (NW3) · London (NW3/NW2) · Whitley Bay · Whitley Bay (NE26)
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 4 SOURCES] London's NW3 postcode averages £778,767, while neighbouring NW2 averages £546,348, a saving of £232,419 (about 30%). (Lloyds analysis)
- [● 4 SOURCES] Scotland's EH3 postcode averages £374,650, while neighbouring EH11 averages £299,315, a saving of £75,335 (about 20%). (Lloyds analysis)
- [● 4 SOURCES] Amanda Bryden is head of mortgages at Lloyds and said the research highlights value that can sit right next door. (Interview quoted in study release)
- [● 4 SOURCES] Homes in neighbouring postcodes are on average 28% cheaper than in higher‑value postcodes. (Lloyds analysis)
- [● 4 SOURCES] Wales' CF64 postcode averages £342,753, while neighbouring CF63 averages £260,234, a saving of £82,519 (about 20%). (Lloyds analysis)
- [● 4 SOURCES] The price‑gap analysis was commissioned by Lloyds Bank. (Lloyds press release)
- [● 4 SOURCES] In the NE26 postcode (Whitley Bay) the average house price is £304,022, while in the adjacent NE24 postcode (Blyth) it is £162,075, a 47% (£141,947) reduction. (Lloyds analysis)
- [● 4 SOURCES] First‑time buyers could benefit from modest location shifts to access cheaper neighbouring postcodes. (Lloyds recommendation)
- [● 12 SOURCES] Lloyds analysis shows homes in neighbouring postcodes are on average 28 % cheaper than the higher‑value postcodes they border. (All articles)
- [● 12 SOURCES] In Scotland, EH3 (central Edinburgh) averages £374,650, while neighbouring EH11 (Gorgie and Stenhouse) averages £299,315, a saving of £75,335 (20 %). (All articles)
- [● 12 SOURCES] Amanda Bryden is head of mortgages at Lloyds and said the research highlights how much value can sit right next door for buyers. (All articles)
- [● 12 SOURCES] In Wales, CF64 (Penarth, Dinas Powys, Sully) averages £342,753, while neighbouring CF63 (Barry) averages £260,234, a saving of £82,519 (around 24 %). (All articles)