There is a snobbery element that is unique to London. The postcode sector that the property is in can have an effect on the property price. People sometimes refer to where they live by the postcode as it can sometimes disguise where you actually live! So for example if you live in Pimlico your postcode is SW1. If you say you live in SW1 then people think immediately of the grand Buckingham Palace, Downing Street and Belgravia rather than the only slightly up-market Pimlico.

Here is the complete list of all the postcodes in London categorized by the good, the bad and the ugly! This is really a hierarchy of postcodes relative to their neighbours. It means that EC1 (Good) is better than EC3 (Ugly) but it does not mean that W4 (Good) is better than EC3 (Ugly) as they are not neighbours.

Good