i did the opposite of that a few years ago ian.i sold some local work as it was underpriced and a few messers/bad payers and just concentrated my efforts 5-10 miles away in a much more affluent area.
now most of my work is in this affluent area.over 250 accounts ranging from compact 3 bedders,4-5 bedders,some commercial and big stand alone properties and even a big church!converted barns,nurseries,offices,childrens home,financial consultants,narrowboat clubhouse.
i have a days work in another area mainly housing association flats and picked up some local work a mile away at much better prices over the last year or so.
so for me i have a very good round but i spent years cleaning underpriced accounts locally which i was glad to get rid of.
ive turned it around.the biggest mistake i made when i started out was pricing work too cheaply to get the work.
regards
dazmond