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Looking at a list of average house prices by postcode in the UK gives home-buyers an idea of which areas are affordable to them. By doing this, they can reduce the amount of time it takes to locate appropriate properties.

At the moment, people who are trying to sell their homes are having to contend with the twin difficulties of unusually low property values and a stagnant housing market. The United Kingdom, like many other countries around the world, is still struggling to escape the clutches of recession, and the process is proving to be a depressingly slow one.

However, while it's not a good time for sellers, the prospects are brighter for buyers. With house prices still showing little sign of climbing back to where they once were, those who are in a position to purchase can snap up the bargains all over the country. This situation won't last forever, of course, so it pays to strike while the iron's hot.

When the economy is booming, property prices tend to change quickly. The buoyancy of the market leads to an increase in the availability of mortgages, and therefore a rise in the number of buyers. And the only possible outcome from there is the steady, rapid increase in the cost of buying a home.

But when times are hard, the opposite tends to happen. A growing number of lenders lose confidence in the market, and therefore issue a lower number of mortgages. This in turn obviously leads to a decrease in the amount of people looking to buy. And with fewer purchasers, prices tend to stay put, or even fall.

In the current climate, buyers can afford to pick and choose before making a serious offer, and with a smaller selection of properties for sale in the UK, many of them will look further afield. Therefore, knowing the average house prices by postcode in Britain enables them to locate the most cost-effective regions in which to look.

A large proportion of purchasers will be restricted to a particular area, of course. This can be because of work commitments, perhaps, or a need to be close to schools, universities or even medical facilities. In addition to these criteria, they may also simply have a desire to be closer to friends and family members.

Retired people often have no such restrictions, though, and may even actively be looking at regions many miles from where they are currently living. For example, they may wish to relocate back to the area where they grew up. Another common practice is for them to move close to the sea, to enjoy a slower pace of life and to breathe in the cleaner air.

There is also another group who may be looking at homes far away from where they are living now. A growing number of people are buying property simply to rent the flat or house out to others. It can prove to be a wise investment, because there are profits to be made. For them, distance from their own homes isn't necessarily a major issue.

Britain is a highly diverse country, and property types and prices vary greatly from region to region. Therefore, a sound knowledge of the average house prices by postcode can be an important ally in the battle to remain financially secure.

Knowing the average house prices by postcode in the UK can help when making decisions about property purchase.