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House Prices in RM5

The average house price in RM5 (Romford) is £425,500 using HM Land Registry data.

The average property price increased by £104,241 (11.06%) over the last 5 years and increased by £20,886 (1.86%) over the last 12 months.

Over the last year, there were 137 residential property sales – a decrease of 54 transactions (-39.42%) relative to the previous year. The majority of house sales (34) were in the £390,000 - £440,000 range. Then came properties in the £440,000 - £490,000 range, where 28 were sold within this price bracket.

Excluding fall throughs, properties are taking an average of 82 days to sell (from being listed to completion) and the average difference between asking and sold prices is £-6,400 (-1%).

In Oct 24, there were 31 new estate agency instructions, 33 agreed home sales and 21 property price reductions.

5-Year Average Property Prices in RM5 (Romford)

11.06%

Property prices in Romford increased by 11.06% 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 RM5 (Romford) Over the Last Year

1.86%

Property prices in Romford increased by 1.86% 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 RM5 (Romford) - Oct 24

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 RM5 (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 RM5 (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 RM5 (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 RM5 (Romford) Postcode since 1995

Using HM Land Registry data, this chart displays average annual house prices in the RM5 postcode area since 1995.

Recent Sales in RM5 (Romford)

Address	Initial Price	Sold Price	Price Change	First Listed Date	Sold Date	Days to Sell
27a, Erith Crescent, Romford, Greater London, RM5 3JP	£265,000	£261,500	-£3,500	06 Jan 2024	28 Jun 2024	174 Days
106 Lynwood Drive, Romford, Greater London, RM5 2QT	£550,000	£533,000	-£17,000	21 Feb 2024	14 Jun 2024	114 Days
143 Chelmsford Avenue, Romford, Greater London, RM5 3XB	£300,000	£300,000	£00	18 Aug 2023	12 Jun 2024	299 Days
19 Hainault Road, Romford, Greater London, RM5 3AA	£525,000	£480,000	-£45,000	18 Mar 2024	30 May 2024	73 Days
33 Chase Cross Road, Romford, Greater London, RM5 3PJ	£260,000	£250,000	-£10,000	13 Oct 2023	23 May 2024	223 Days
11 Patmore Way, Romford, Greater London, RM5 2HE	£425,000	£420,000	-£5,000	30 Jan 2024	17 May 2024	108 Days
31 Norman Close, Romford, Greater London, RM5 3EJ	£475,000	£460,000	-£15,000	07 Oct 2023	30 Apr 2024	206 Days
55 Hillfoot Avenue, Romford, Greater London, RM5 3LJ	£450,000	£440,000	-£10,000	08 Jan 2024	19 Apr 2024	102 Days
76 Udall Gardens, Romford, Greater London, RM5 2LA	£400,000	£390,000	-£10,000	31 May 2023	12 Apr 2024	317 Days
117 Carter Drive, Romford, Greater London, RM5 2UU	£350,000	£350,000	£00	08 Jan 2024	28 Mar 2024	80 Days
62 Victoria Avenue, Romford, Greater London, RM5 2QD	£450,000	£376,000	-£74,000	05 Oct 2018	27 Mar 2024	2000 Days
53 Chase Cross Road, Romford, Greater London, RM5 3PL	£415,000	£415,000	£00	27 Nov 2023	18 Mar 2024	112 Days
8 Hillrise Road, Romford, Greater London, RM5 3BG	£185,000	£175,000	-£10,000	17 Jan 2024	08 Mar 2024	51 Days
263 Hillrise Road, Romford, Greater London, RM5 3BZ	£350,000	£320,000	-£30,000	23 Nov 2023	07 Mar 2024	105 Days
235 Collier Row Lane, Romford, Greater London, RM5 3JA	£467,500	£462,000	-£5,500	01 Mar 2023	29 Feb 2024	365 Days
91 Riversdale Road, Romford, Greater London, RM5 2NR	£450,000	£440,000	-£10,000	15 Sep 2023	29 Feb 2024	167 Days
138 Hillrise Road, Romford, Greater London, RM5 3BY	£375,000	£370,000	-£5,000	23 Jul 2023	26 Feb 2024	218 Days
20 Defoe Way, Romford, Greater London, RM5 2HR	£350,000	£345,000	-£5,000	02 Oct 2023	23 Feb 2024	144 Days
9 Patmore Way, Romford, Greater London, RM5 2HE	£500,000	£500,000	£00	05 Jun 2023	31 Jan 2024	240 Days
80 Ascension Road, Romford, Greater London, RM5 3RT	£400,000	£400,000	£00	10 Jul 2023	30 Jan 2024	204 Days

Most Expensive Streets in RM5 (Romford)

Postcode	Street	Area	Average	No. of Sales
RM5 3AS	Hainault Road	Romford	£543,750	4
RM5 3TH	Lawns Way	Romford	£539,166	6
RM5 3JB	Collier Row Lane	Romford	£529,064	4
RM5 2QT	Lynwood Drive	Romford	£514,583	6
RM5 3RS	Ascension Road	Romford	£509,250	4
RM5 3EU	Horndon Road, Collier Row	Romford	£508,250	6
RM5 2DH	Hog Hill Road	Romford	£498,400	5
RM5 3UB	Faircross Avenue	Romford	£490,000	4
RM5 3EH	Kenway	Romford	£490,000	3
RM5 3AP	Hainault Road	Romford	£485,833	6

Least Expensive Streets in RM5 (Romford)

Postcode	Street	Area	Average	No. of Sales
RM5 3BG	Hillrise Road	Romford	£254,166	3
RM5 3XJ	Chelmsford Avenue	Romford	£257,500	6
RM5 3HB	Horndon Road, Collier Row	Romford	£263,333	3
RM5 2JX	Udall Gardens	Romford	£263,700	5
RM5 3XP	Chase Cross Road	Romford	£265,083	6
RM5 3JJ	Erith Crescent	Romford	£267,300	5
RM5 3BW	Hillrise Road	Romford	£271,125	4
RM5 3XH	Chelmsford Avenue	Romford	£271,625	4
RM5 3LA	Brockley Crescent	Romford	£281,200	5
RM5 3AL	Hainault Road	Romford	£283,375	8