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Proof that postcode snobbery is real— as if we needed it
This jumble of letters and numbers should be meaningless outside of its coding system — but what happens when the meaningless commands a 200 per cent premium?
There is a London junction where late-night gay bars twinkle in the shadow of a mosque, while dirty old warehouses stare down luxury flats. Hippy houseboats float on the canal below while the A10’s traffic churns over the bridge. Is it Hoxton, Haggerston or Shoreditch? Here on Kingsland Road is a nexus not just of demographics but also of London postcodes; the place where N1, E8 and E2 all meet, bringing their boroughs of Islington, Hackney and Tower Hamlets with them. And for some residents, it really matters which side of this junction your bread is buttered.
I remember when a group of homeowners on this border successfully campaigned to have their postcode changed from an east London one to a north London one, some years ago when the cultural capital of New Labour’s Islington added a hefty premium to house values. I laugh to remember it now, because east London is becoming so desirable that the owners might end up campaigning to hand back their N1 and retrieve their E8. (It is reminiscent of when residents of the Wirral, embarrassed to have the L postcode of nearby Liverpool, had their campaigning efforts vindicated when the Post Office upgraded them to the CH of upmarket Cheshire instead.)
Ah, postcode snobbery! New research from estate agent Savills would suggest that postcode snobbery is real — they can almost prove it with data. In itself, a postcode should be meaningless outside of its coding system, but the signifier has become as crucial as the thing signified. In and around Birmingham, for example, homes have a B postcode. But the subdivision of B94, with picturesque villages such as Hockley Heath, Earlswood and Tanworth in Arden, has an average house price of triple those of the rest of Birmingham. B94 is even 40 per cent more expensive, on average, than B93, which is just next door
