RM7 (Havering) area guide

RM7
Havering
The RM7 postcode district lies within or includes part of the following towns, counties, localities, electoral wards and stations: Barking And Dagenham, Brooklands, Eastbrook, Havering, Mawneys, Newham, Romford, Romford Town, Rush Green.
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Notes:

A Mouseprice property guide for RM7 Havering is coming soon. In the meantime, please have a look at the raw data and statistics about RM7 that can be found by click the relevant links on the left hand side.

Old area guide:

The commentary below was written for the mouseprice.com website in 2006, please be aware that the comments below might be out of date. We recommend disregarding these comments in favour of the data that can be found either above or in the other sections of this website.

Market trends:

Romford propertyThe size of the property market in RM7 is 11151 homes.

Romford propertyProperty in this postcode district (RM7) has been growing at a nominal annual rate of 16.1% over the last 5 years. This rate can be indicative ofa dynamic local economy and housing market. Property price growth in this area has significantly exceeded growth in earnings and the national average house price growth, and so the likelihood of it continuing will be dependent upon price earnings ratio, as well as investment by developers and local authorities in continually upgrading local infrastructure, schools, in addition to the continued strength of the local and national economies and any other economies upon which the area depends.

Romford propertyDuring the last 3 months, property in this postcode district has averaged a value of £192890.

Romford propertySince most banks lend money to buy property using their customers’ salary as a indicator of affordability, the price earnings ratio is a useful guide as to whether property in an area is expensive or not. Price Earnings Ratio in this postcode district is 10.3.

Romford propertyNew transactions as a percentage of overall sales are 5.3%.

Housing stock:

Havering propertyTerraced Houses make up the most significant portion of the housing stock, representing 39.3% of the total.

Havering propertyFor those buyers keen to purchase Detached Houses, this would not be an ideal area, because only 5.3% are this type.

Havering propertyThe property in this area caters well for retirees and young couples who do not have large families. alt="Havering property">Socially rented accommodation represents a significant percentage of the total rented accommodation in the area at 15.4%.

Havering propertyThe majority of property in this area is owner occupied.

Havering propertyThe average price of a two bed property in this area is less that the national average of £187894 at £180154.

Who lives here:

Havering propertyTotal population in this area is 26553.
Havering propertyThe average age in this area is 36.
Havering propertyThis area has a high percentage of married people at 31.2%.
Havering propertyAverage working hours in this area for men are 43 and for women are 32.
Havering propertyThis area has 30.2 people per square kilometre.
Havering propertyThe largest source of work in this area is Wholesale & Retail (16.8% of workers), followed by Construction (11.7%).