Finding an affordable home does not always mean moving miles away from the areas buyers want most.
New research from Lloyds Bank suggests some of the biggest savings could be found just outside Britain's most expensive postcodes, with buyers potentially cutting more than £230,000 off the cost of a property.
The bank found homes in neighbouring areas are 28 per cent cheaper on average, with some locations in the North East offering properties at almost half the price of nearby sought-after districts.
Amanda Bryden, head of mortgages at Lloyds, said: "It’s easy to focus on the ‘must-have’ locations when you’re searching for a home, but this research highlights just how much value can sit right next door.
"Of course, neighbouring areas aren’t always directly comparable and each will have its own distinctive character, housing stock and local appeal.
"But in many parts of the country, looking just beyond the most sought-after postcodes can reveal more affordable options while still keeping buyers close to jobs, transport links, amenities and the communities that matter to them."
These are the neighbourhoods sitting close to some of Britain's most expensive areas, where buyers could save hundreds of thousands of pounds while remaining near popular locations, according to The Sun.
Whitley Bay (NE26) is one of the North East's most desirable coastal locations, with homes in the seaside town costing £304,022 on average.
But nearby Blyth (NE24) offers a much cheaper alternative, with properties costing around half as much.
The average house price in the industrial port town is £162,075 — £141,947 or 47 per cent less than its more expensive neighbour.
The move would not mean losing access to the coast, with Whitley Bay less than 20 minutes away by car.
In the East of England, Harpenden and Kinsbourne Green (AL5) command much higher prices, with average homes costing £587,884.
But around 10 minutes away, South Luton and surrounding areas (LU1) offer buyers significantly more affordable options.
Average house prices there stand at £351,742, meaning buyers could save £236,142 — around 40 per cent.
The area also provides access to major transport links including Luton railway station and Luton Airport Parkway, alongside schools and green spaces.
Leamington Spa and surrounding areas (CV32) in the West Midlands have an average house price of £392,988.
However, buyers looking in CV35, which covers Wellesbourne and Kineton, could save £49,958.
Homes in the postcode area cost £343,030 on average — a saving of 13 per cent — while Leamington Spa is less than a 20-minute drive away.
One of London's most expensive postcodes is NW3, covering Hampstead and Belsize Park.
Properties in the sought-after area cost £778,767 on average.
But nearby NW2, including Cricklewood and Dollis Hill, offers a significantly cheaper route into the capital's more desirable areas.
The neighbourhood includes a mix of period properties and newer developments, attracting first-time buyers and families.
Average prices stand at £546,348, meaning buyers could pay £232,419 less than in NW3 — a saving of around 30 per cent.
In Scotland, EH3 is the most expensive postcode, covering central Edinburgh areas including the West End.
Homes in this sought-after part of the city cost £374,650 on average.
But nearby EH11, including Gorgie and Stenhouse, offers buyers a more affordable alternative within easy reach of the centre.
Lloyds said the area has long been popular with buyers looking for value while staying close to Edinburgh.
With average prices of £299,315, buyers could save £75,335 compared with EH3 — around 20 per cent.
In Wales, CF64 is the most expensive postcode, covering Penarth, Dinas Powys and Sully.
With coastal views, attractive surroundings and strong transport links to Cardiff, the area has an average house price of £342,753.
But neighbouring CF63, which includes Barry, Cadoxton and Barry Docks, offers buyers a cheaper alternative.
The area combines access to the coast with more affordable housing and has attracted interest from buyers looking for value within commuting distance of the Welsh capital.
Average prices of £260,234 mean buyers could save £82,519 compared with CF64 — around 24 per cent.
