To invest successfully in a property, you must know the area where you are targeting. Havering is a borough on the east side of London that possesses great potential. Historically, it has been part of the county of Essex, but is in Greater London today. As the top name for guaranteed rent Havering has, we want to have a closer look.

Despite being a locale with busy industrial and commercial spots, some areas are semi-rural. Many sections of the borough are popular with individuals seeking out more space at more affordable rents and prices.

Property values

Havering properties are nearly 25% cheaper than the capital’s average. According to HM Land Registry, the average property price is around £409,000. This compares to £538,000 for London as a whole. Cheap investment opportunities also exist in the area. Zoopla says that property prices start at roughly £140,000.

You are probably wondering where the most expensive and cheapest areas are. According to Rightmove, the lowest price tags are in Wennington. North Ockendon properties will require the biggest investment, so take care if you explore here.

The rental market

As for renting, demand is primarily from locals and those wanting to work here. Some sections of the borough appeal to London commuters too. This is particularly true for the locations with excellent rail and tube links.

How much rent Havering landlords can gain from a rental depends on the location and property. Although, according to figures from the Romford Market Rent Summary, £1,422 is Romford’s average monthly rent. If you need the best services for guaranteed rent Havering has, contact us.

The data reveals that average rents from separate property types in Romford are £1,062 PCM for one-bedroom properties. For two-bedroom it’s £1,341 PCM, and £1,636 PCM for three-bed ones. Four-bedroom properties come in at £2,072 PCM. Finally, a five-bed property can potentially earn £3,356 per month in rent.

For those wondering what Havering yields are like, they are 3.8% for a long let on average. This is according to property xyz. However, some sections of the borough have the potential to deliver a 6.2% letting yield.

Havering’s landlord licensing

Another thing you should know is that some parts of the borough are subject to selective licensing. It means every rental building in these locales needs a license. Areas this applies to include the Romford Towns and Brooklands wards.

Havering Council also has two Article 4 directions that removed permitted development rights. These are ones in relation to change of use from dwelling properties to HMOs.

Housing

Much of the borough is a standard suburban locale with classic housing. Some of the most popular property types include detached and semi-detached houses, and terraces. In addition, there are bungalows with gardens, typically on huge 20th century estates. Various new build apartments and homes have also arrived in recent years. As for northern sections of the borough, they are semi-rural with big family houses.

Collier Row

One notable locale in Havering is Collier Row. It is a massive housing development from the 1930s. You’ll find it on the A12 road with decent access to the M25 and towards the capital. It is a popular and good value spot among families. Havering Park and Rise Park also adjoin the area.

Elm Park

Another popular area is this huge 20th century housing estate. Originally, it was planned to be a garden suburb. It has its own tube station on the District line.

Emerson Park

Here we have a residential suburb near Hornchurch. It has its own London Overground station so there are great links to Upminster and Romford. This is an upmarket residential spot with more expensive properties.

Gidea Park

Originally this was also planned as a garden suburb with multiple architect-designed houses. Now, it is a conservation area. It is one of Romford’s smartest locales, with high value properties. Many are worth £1m and over.

A hassle free service for guaranteed rent in Havering

At Guaranteed Rent, we offer a service that is free of hassle. Our team is able to provide an all-in-one solution for all your property needs. A service can take care of everything from property maintenance and management to tenancies. We also work with the local council to give you the best peace of mind.

So, if you need the foremost services for guaranteed rent Havering has, speak to us. We can explain how everything works and then tell you about the benefits.