Market outlook for RM3
Key indicators for buyers
The RM3 market is moderately favourable for buyers. 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 £419,819 with a 25% deposit (£105k), a 2-year fixed mortgage at 3.97% costs around £1,657 per month.
Rent vs buy snapshot
Monthly cost comparison based on current data
Uses RM3 avg. price with Havering rental data
Monthly mortgage payments (£1,657) are £93 more than renting (£1,564). However, buying requires an upfront deposit of £105k — it would take around 10 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 |
|---|---|---|---|
3, FIRHAM PARK AVENUE RM3 0SJ | Terraced | £465,000 | 23 Jan 2026 |
FLAT 1, BUTTERCUP HOUSE, 1, BRICK KILN ROAD RM3 7GH | Flat/Maisonette | £260,000 | 22 Jan 2026 |
41, HARROW CRESCENT RM3 7AA | Detached | £475,000 | 16 Jan 2026 |
4, EWAN ROAD, HAROLD WOOD RM3 0WW | Terraced | £475,000 | 16 Jan 2026 |
62, KEATS AVENUE RM3 7BA | Terraced | £420,000 | 16 Jan 2026 |
7, CHELSWORTH DRIVE RM3 0ES | Semi-detached | £740,000 | 9 Jan 2026 |
45, CHURCH ROAD, HAROLD WOOD RM3 0JU | 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.