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House Prices in RM1

The average house price in RM1 (Romford) is £465,909 using HM Land Registry data.

The average property price increased by £104,231 (14.97%) over the last 5 years and increased by £20,837 (2.44%) over the last 12 months.

Over the last year, there were 187 residential property sales – a decrease of 99 transactions (-52.94%) relative to the previous year. The majority of house sales (46) were in the £374,000 - £456,000 range. Then came properties in the £456,000 - £538,000 range, where 38 were sold within this price bracket.

Excluding fall throughs, properties are taking an average of 91 days to sell (from being listed to completion) and the average difference between asking and sold prices is £-6,652 (-1%).

In June 2024, there were 60 new estate agency instructions, 41 agreed home sales and 18 property price reductions.

5-Year Average Property Prices in RM1 (Romford)

14.97%

Property prices in Romford increased by 14.97% in last 5 years.

The trend shows the general price tendency over the last 5 years, ignoring all month-to-month fluctuations where anomalies - typically over or underpriced property sales - can skew results. These monthly variations typically do not have any long-term relevance.

We have used linear regression method. The volume of sales in a month is used to put more weight on months with a larger number of properties sold. Additionally, weighting decreases the impact of months with low sales volumes as well as the most recent month - which may consist of incomplete data. Such months have a higher variation of average sale values which may conceal the underlying trend.

From a statistical perspective, we use the least squares method to fit the trend line and weights are equal to the volume of sales squared. The volume of sales is not shown explicitly in the above plot. Also note the time lag for HM Land Registry data to appear (typically 2 to 3 months).

Average Property Prices in RM1 (Romford) Over the Last Year

2.44%

Property prices in Romford increased by 2.44% in last 12 months.

The trend shows the general price tendency over the last 12 months, ignoring all month-to-month fluctuations where anomalies - typically over or underpriced property sales - can skew results. These monthly variations typically do not have any long-term relevance.

Property Market Heat Gauge for RM1 (Romford) - June 2024

Our Property Market Heat Gauge looks at how long properties in your postcode district have been on the open market before being changed to sold 'Subject to Contract' ('STC') or 'Under Offer' on Rightmove (the UK's leading property portal).

At 81 to 100 days, the broad evidence suggests a very slow moving market. This can often be due to estate agency over-valuations out of sync with the realities, a notable market slowdown or a combination of both. In such scenarios, vendors may either choose to wait for the market to pick up (which may result in relisting the property at a later date). Those committed to selling will often need to drop the price to a level that will entice genuine homebuyer interest or approach a sell house fast or auction company like Property Solvers.

Please note that this is not an indicator of how quickly property sales are taking to complete (i.e. to go through the whole conveyancing process). This measurement also does not take into account the risk of home sales falling through.

No. of New Instructions Over the Last 12 Months in RM1 (Romford)

Using local estate agency reported data, this chart illustrates the number of properties that have come on to the market.

No. of Agreed Home Sales Over the Last 12 Months in RM1 (Romford)

Using local estate agency reported data, this chart illustrates the number of property sales agreed. Note that these figures are not fully reflective of properties completed (sold and registered as such at HM Land Registry).

No. of Properties with Price Reductions in RM1 (Romford)

Using local estate agency reported data, this chart illustrates the number of properties which have been seen their prices dropped (typically due to a lack of buyer interest).

Average Annual House Prices in the RM1 (Romford) Postcode since 1995

Using HM Land Registry data, this chart displays average annual house prices in the RM1 postcode area since 1995.

Recent Sales in RM1 (Romford)

Address	Initial Price	Sold Price	Price Change	First Listed Date	Sold Date	Days to Sell
Flat 8, Western Court, Chandlers Way, Romford, Greater London, RM1 3JR	£230,000	£225,000	-£5,000	11 Sep 2023	16 Apr 2024	218 Days
18 Spey Way, Romford, Greater London, RM1 4YS	£580,000	£550,000	-£30,000	23 Jan 2024	12 Apr 2024	80 Days
329 South Street, Romford, Greater London, RM1 2AP	£475,000	£475,000	£00	22 Jan 2024	28 Mar 2024	66 Days
256 Havering Road, Romford, Greater London, RM1 4TD	£425,000	£415,000	-£10,000	06 Nov 2023	28 Mar 2024	143 Days
151a, Havering Road, Romford, Greater London, RM1 4TB	£650,000	£647,200	-£2,800	22 Jan 2024	25 Mar 2024	63 Days
5 Glenton Close, Romford, Greater London, RM1 4AN	£425,000	£418,000	-£7,000	12 Aug 2023	01 Mar 2024	202 Days
1 Moray Way, Romford, Greater London, RM1 4YD	£650,000	£640,000	-£10,000	07 Jun 2023	29 Feb 2024	267 Days
The Lodge, Main Road, Romford, Greater London, RM1 3DA	£280,000	£275,000	-£5,000	18 Aug 2023	07 Feb 2024	173 Days
404 Havering Road, Romford, Greater London, RM1 4DE	£450,000	£420,000	-£30,000	03 Jul 2023	02 Feb 2024	214 Days
45 Park End Road, Romford, Greater London, RM1 4AX	£425,000	£400,000	-£25,000	01 Nov 2023	26 Jan 2024	86 Days
35 Garry Way, Romford, Greater London, RM1 4YU	£450,000	£440,000	-£10,000	17 Oct 2023	26 Jan 2024	101 Days
29 Heather Close, Romford, Greater London, RM1 4PD	£499,995	£499,995	£00	23 Nov 2022	19 Jan 2024	422 Days
449 Havering Road, Romford, Greater London, RM1 4HR	£375,000	£375,000	£00	21 Jun 2023	09 Jan 2024	202 Days
297 Pettits Lane North, Romford, Greater London, RM1 4PB	£525,000	£525,000	£00	18 Jul 2023	08 Jan 2024	174 Days
25 Clyde Way, Romford, Greater London, RM1 4UR	£500,000	£470,000	-£30,000	07 Aug 2023	18 Dec 2023	133 Days
30 Dorset Avenue, Romford, Greater London, RM1 4LP	£525,000	£510,000	-£15,000	04 Aug 2023	14 Dec 2023	132 Days
32 Pettits Lane, Romford, Greater London, RM1 4HH	£525,000	£512,300	-£12,700	10 Aug 2023	08 Dec 2023	120 Days
111 Seymer Road, Romford, Greater London, RM1 4LA	£650,000	£638,000	-£12,000	18 Aug 2023	08 Dec 2023	112 Days
82 Parkside Avenue, Romford, Greater London, RM1 4NH	£450,000	£445,000	-£5,000	07 Sep 2023	08 Dec 2023	92 Days
14 Beauly Way, Rise Park, Romford, Greater London, RM1 4XD	£490,000	£475,000	-£15,000	21 Jun 2023	04 Dec 2023	166 Days

Most Expensive Streets in RM1 (Romford)

Postcode	Street	Area	Average	No. of Sales
RM1 4DB	Oaklands Avenue	Romford	£975,000	4
RM1 4ES	Wayside Close	Romford	£843,750	4
RM1 4DY	Lake Rise	Romford	£831,250	4
RM1 4ET	Pettits Lane	Romford	£792,500	4
RM1 4LY	Lower Bedfords Road	Romford	£780,000	3
RM1 4EE	Lake Rise	Romford	£768,500	5
RM1 4BX	Mashiters Walk	Romford	£751,250	4
RM1 4HL	Pettits Lane	Romford	£737,500	4
RM1 4HH	Pettits Lane	Romford	£721,325	4
RM1 4LH	Park Drive	Romford	£698,000	5

Least Expensive Streets in RM1 (Romford)

Postcode	Street	Area	Average	No. of Sales
RM1 2DE	Merritt House, Frazer Close	Romford	£118,567	14
RM1 3LN	Admiral Lodge	Romford	£136,740	5
RM1 1NJ	South Street	Romford	£149,125	4
RM1 3QZ	Watermans	Romford	£150,333	12
RM1 4AR	Portnoi Close	Romford	£184,100	5
RM1 2DF	Frazer Close	Romford	£189,800	10
RM1 1NL	South Street	Romford	£201,666	3
RM1 3QY	Longdon Court, Junction Road	Romford	£201,812	8
RM1 2TE	Marwell Close	Romford	£210,045	11
RM1 2RE	Rushdon Close	Romford	£211,222	9