Market outlook for RM2
Key indicators for buyers
The RM2 market is moderately favourable for buyers. Prices have softened (-10.4%), 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 £488,333 with a 25% deposit (£122k), a 2-year fixed mortgage at 3.97% costs around £1,927 per month.
Rent vs buy snapshot
Monthly cost comparison based on current data
Uses RM2 avg. price with Havering rental data
Monthly mortgage payments (£1,927) are £363 more than renting (£1,564). However, buying requires an upfront deposit of £122k — it would take around 13 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 |
|---|---|---|---|
64, AMERY GARDENS RM2 6RU | Terraced | £520,000 | 23 Jan 2026 |
575, UPPER BRENTWOOD ROAD RM2 6LH | Semi-detached | £470,000 | 9 Jan 2026 |
92, BELGRAVE AVENUE RM2 6PU | Terraced | £475,000 | 8 Jan 2026 |
29, GLENWOOD DRIVE RM2 5AR | Terraced | £385,000 | 22 Dec 2025 |
46A, TUDOR DRIVE RM2 5LH | Flat/Maisonette | £357,500 | 19 Dec 2025 |
FLAT 8, CARLA COURT, 80, SOUTHEND ARTERIAL ROAD RM2 6PL | Flat/Maisonette | £245,000 | 19 Dec 2025 |
9, THE RIDGEWAY, GIDEA PARK RM2 5BU | Terraced |
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.