Romford

Area Guide For Romford

Romford is a large suburban town in northeast London, England and the administrative headquarters of the London Borough of Havering. It is located 14.1 miles (22.7 km) northeast of Charing Cross and is one of the major metropolitan centres identified in the London Plan. It was historically a market town in the county of Essex and formed the administrative centre of the liberty of Havering, until it was dissolved in 1892. Good road links and the opening of the railway station in 1839 were key to the development of the town and the economic history of Romford is underpinned by a shift from agriculture to light industry and more recently to retail and commerce. As part of the suburban growth of London in the 20th century, Romford significantly expanded and increased in population, becoming a municipal borough in 1937 and has formed part of Greater London since 1965. It now forms one of the largest commercial, retail, entertainment and leisure districts outside central London and has a developed night time economy. Romford is first recorded in 1177 as Romfort, which is formed from Old English and 'ford' and means "the wide or spacious ford". The naming of the River Rom is a local

 
 

Romford Map

Estimated Price: £294,864
Average Asking Price: £377,803
Price change in last one year: £19,855
Average Price Paid: £230,233
Average Rent Rates: £1,514

 
 

Property Prices Breakdown in Romford

Average Price for property in Romford is around £294,864 which varies based on type of property you are interested in and ranges from £552,173 for detached house to around £326,814 for semi-detached. Similarly terraced house is around £277,993 and a flat is worth £191,811. Values have been changing and have risen £905 in last 3 months alone. Similar historical trend can be observed in price changes e.g. prices changed £4,797 in last 6 months, £19,855 in last 1 year, £47,231 in last 2 years, £47,921 in last 3 years, £46,787 in last 4 years and £44,740 in last 5 years.

Currently average asking price of a property in Romford is around £377,803 based on approximately 2,045 properties for sale. Same is the case with rental options based on 277 properties up for rent, average asking rent is around £1,514 per month.

Estimated property value in Romford is £294,864. Average asking price is £377,803 while average price paid is £254,952 which is up by £19,855 and Avg. asking rent £1,514.Based on an Online Survey

Buyers are willing to pay high dollar prices to grab these properties because of the recent trend in real estate investment especially in Romford area. In last 1 year alone average price buyer paid is around £254,952 based on approximately 2,045 sales in Romford area alone. If you compare it to last 3 years sales of 6,087 properties where buyers paid around £234,895. It has been same for some time now for e.g. if you take an average of amount paid in last 5 years, it comes to around £230,233 for 9,548 and average amount paid for purchase of approx. 12,995 properties sold in last 7 years comes to about £226,694 per sale.

 
 

Properties For Sale in Romford

 
 

Breakdown of asking prices for homes of different sizes show that price varies clearly based on no of bedrooms and type of house. Asking price for a house with 1 bedroom is around £101,832, £267,689 for a 2 bedroom house, £315,334 for a 3 bedroom house, £575,200 for a 4 bedroom house and £735,344 for a 5 bedroom house. For a flat similarly the prices varies from £149,867 for a single bedroom to £200,507 for a 2 bedroom Flat. Same is the case with 3 bedroom flat £288,332. To sum up the asking prices for properties in Romford it comes to around average £146,024 for 1 bedroom property, £221,103 for 2 bedroom, £314,834 for 3 bedroom, £575,200 for 4 bedroom and £735,344 for a 5 bedroom property.

Rent per calendar month varies similarly based on type and size of the house. If you look at the rents per month for houses alone it can vary from £1,013 for 1 bedroom to £1,178 for 2 bedrooms, £1,379 for 3 bedrooms, £1,537 for 4 bedrooms and £2,043 for 5 bedrooms house. But if you are interested in renting a 1 bedroom flat then rent per month can be around £909. As the no. of bedroom increase so will the rent e.g. for a 2 bedroom flat it will be around £1,052, £1,211 for 3 bedroom and £1,361 for 4 bedroom. You should be generally be expecting around average £938 rent per month for single bedroom property, £1,074 for 2 bedroom, £1,357 for 3 bedroom, £1,522 for 4 bedroom and approximately £2,043 for a 5 bedroom property in Romford area.

Popular Houses in Romford

Disclaimer : Location real estate estimates and values are based on House price index background data and Sales data provided by United Kingdom Land registry Records available as public records from their website. This information is updated monthly on our website and may not reflect all public transactions. This information is based on estimated calculation generated from our developed algorithms. We are striving to make this information as accurate and useful as possible. This data covers the transactions received at Land Registry in the period 1/1/1995 to 9/1/2014. © Crown copyright 2014. Data produced by Land Registry © Crown copyright 2014.

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