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House prices still rising in Havering despite London-wide drop

Estate agents boards in London. Picture: Press Association Estate agents boards in London. Picture: Press Association

Monday, August 4, 2014
4:13 PM

The London property market may be cooling, but new figures have revealed house prices in Havering are still on the rise.

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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.

Read more:

Harold Hill Council house, that launched Magaret Thatcher’s Right To Buy Scheme is sold for 20 times its original value

Havering house prices hit £275k average but still fourth-cheapest in London

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