Market outlook for RM1
Key indicators for buyers
The RM1 market is moderately favourable for buyers. Prices have softened (-20.0%), which could present a buying opportunity. Affordability has improved from a peak of 12.9x in 2022 to 11.0x today. Rising rents (£1,564/mo, +6.6%) mean the cost of waiting is real.
Price trends
Yearly averages · HM Land Registry Price Paid Data
Prices by property type
2026averages · HM Land Registry Price Paid Data
Affordability ratio
House price ÷ median earnings · ONS data
Affordability data shown for wider Havering area
A home in Havering costs 11.0x the local median salary — very stretched, improving from a peak of 12.9x in 2022.
Rental trends
Average monthly rent · ONS Private Rental Index
Rental data shown for wider Havering area
Average monthly rent in Havering is £1,564, up 6.6% year-on-year. Rents have risen consistently over the past five years.
Monthly mortgage
2yr fixed · 75% LTV · 25yr term · BoE avg. rate
Based on the average Havering price of £385,045 with a 25% deposit (£96k), a 2-year fixed mortgage at 3.97% costs around £1,520 per month.
Rent vs buy snapshot
Monthly cost comparison based on current data
Uses RM1 avg. price with Havering rental data
Monthly mortgage payments (£1,520) are £44 less than renting (£1,564). However, buying requires an upfront deposit of £96k — it would take around 8 years to recoup that cost compared to renting and investing the difference.
Recent sales
Latest transactions · HM Land Registry Price Paid Data
| Address | Type | Price | Date |
|---|---|---|---|
16, WOODLANDS ROAD RM1 4HD | Terraced | £545,000 | 23 Jan 2026 |
3, GLENTON CLOSE RM1 4AN | Terraced | £390,000 | 20 Jan 2026 |
12, KEW CLOSE RM1 4WJ | Terraced | £396,500 | 16 Jan 2026 |
FLAT 3, HILL COURT, MAIN ROAD RM1 3DA | Flat/Maisonette | £300,000 | 16 Jan 2026 |
57, HAVERING ROAD RM1 4QT | Semi-detached | £455,000 | 16 Jan 2026 |
FLAT 1, NORTH PARK COURT, 1A, PARKSIDE AVENUE RM1 4NF | Flat/Maisonette | £215,000 | 16 Jan 2026 |
255, PETTITS LANE NORTH RM1 4NU | Semi-detached |
Data sources (all free & public): HM Land Registry Price Paid Data & UK House Price Index · ONS Housing Affordability Ratios · ONS Private Rental Index · Bank of England Quoted Household Interest Rates · HMRC Monthly Property Transactions
Contains HM Land Registry data © Crown copyright and database right 2021. This data is licensed under the Open Government Licence v3.0.