Market outlook for RM7
Key indicators for buyers
The RM7 market presents a mixed picture for buyers. Prices are rising at 19.6%, which may favour acting sooner rather than later. 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 £489,583 with a 25% deposit (£122k), a 2-year fixed mortgage at 3.97% costs around £1,932 per month.
Rent vs buy snapshot
Monthly cost comparison based on current data
Uses RM7 avg. price with Havering rental data
Monthly mortgage payments (£1,932) are £368 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 |
|---|---|---|---|
73, VALENTINES WAY RM7 0YD | Terraced | £570,000 | 19 Jan 2026 |
27, DRUMMOND ROAD RM7 7EJ | Semi-detached | £470,000 | 19 Jan 2026 |
167, GREAT CULLINGS, RUSH GREEN RM7 0YR | Terraced | £420,000 | 16 Jan 2026 |
FLAT 15, THE SQUIRES, 243, LONDON ROAD RM7 9JX | Flat/Maisonette | £195,000 | 16 Jan 2026 |
239, GORSEWAY RM7 0SB | Terraced | £438,000 | 16 Jan 2026 |
19, CROWLANDS AVENUE RM7 9JA | Terraced | £535,000 | 14 Jan 2026 |
33, LEONARD AVENUE RM7 0XL | 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.