Potentially, yes.
Many people choose to live further outside the confines of London to save money on accommodation costs. There are many towns that
are described as being in the "commuter belt", which means that people who live in those areas can still get into London
reasonably quickly. The cost of buying or renting a property in these areas can still be high, but it's still usually much cheaper
than living in London itself.
It's important to note that if you do choose to live outside of London, you will need to factor in extra transport
costs when working out how much you can afford. There are a large number of regular train services that provide a direct link
to London, but they can prove to be an expensive way to travel.