House prices still rising in Havering despite London-wide drop
16:13 04 August 2014
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The London property market may be cooling, but new figures have revealed house prices in Havering are still on the rise.
The Halifax monthly index shows property prices have risen consistently in the borough over the last 12 months.
Hornchurch houses have risen the most, from an average of £302,361 in June last year, to £349,034 this June (14 per cent).
Upminster properties have risen from £463,831 to £494,642 (6.6pc) and Romford from £247,160 to £279,115 (11pc).
Martin Gibbon, group director of Balgores Property Group, with offices in all of the areas, said: “Prices are generally slowing down a little, but they are very buoyant and still ahead of average prices in the UK.
“This I believe is due to increased confidence in the economy, low levels of available stock and historically low interest rates.