For many of us, location is as important as the home itself, if not more so. Obviously, as a seller you can't change your neighbourhood, but you can do your bit to sell it to potential buyers. During viewings, highlight any local amenities, transport links, parks and schools, and if your area has a good sense of community, ensure you tell house-hunters about it.
If you're a buyer, pay a few visits to the neighbourhood at different times of day. Buy something from the nearest shop and ask the person behind the counter what they think of the area – they're bound to be a font of knowledge. And remember to check online to see if the area is at risk from flood, fire or other natural disasters – if so, it's worth getting an insurance quote so you won't be slammed by hidden costs after you've moved in!