10-05-2025
Priced out of your dream location? Try these cheaper areas nearby
Buyers priced out of prestigious cities, towns, suburbs and villages are heading to the next-best version nearby, turning the idea of 'location, location, location' on its head.
Jonathan Hopper, the chief executive of the search company Garrington Property Finders, calls the phenomenon 'halo postcodes'. 'We always had the mantra, 'location, location, location', but that is changing now,' he says. 'It's a post-pandemic trend that became a perfect storm, with house prices rising rapidly and then, with Liz Truss, mortgage rates rising rapidly.
'Buyers face three variables. One is the price, one is the property itself and the third is the location. Affordability is becoming constrained. A lot of buyers can't stretch any further financially — they need a certain kind of property, so it's location
