Havering becomes second most affordable borough for home buyers
PUBLISHED: 13:58 01 August 2016 | UPDATED: 13:58 01 August 2016
PA Archive/PA Images
In the midst of soaring house prices, new figures reveal Havering to be the second most affordable borough for first-time buyers.
Estate agent eMoov’s analysis of Land Registry data reveals the average price for first-time buyer homes in Havering is £281,836.
However, in the space of just four years, the figure has risen by 51 per cent from £186,180.
Across London, the cost of buying a home has soared by 55 per cent to £522,105 in just four years, with the current price paid by a first-time buyer now averaging £462,602.
Russell Quirk, CEO of eMoov, said: “First-time buyers are paying almost as much as second and third steppers in actual price terms, yet the percentage increase in first-time buyer properties is tracking even greater than regular house prices.”
If you value what this story gives you, please consider supporting the Romford Recorder. Click the link in the orange box above for details.