CBRE Borough Guide: Havering
The main focus of the borough is business growth, which has been supported by recent upgrades to the public realm at Upminster and Hornchurch. Havering’s main urban area Romford, is also set to undergo significant investment, with plans for 3,500 new homes and the redevelopment of Romford market now progressing. Work is also set to start of a new £25 million retail and leisure development in Romford town centre. There are also planned transport improvements with a new rail station at Beam Park and Elizabeth line stations at Romford, Gidea Park and Harold Wood.
Given all this investment and planned improvement, it is unsurprising that Havering had one of the highest house price growth last year. Despite this, it remains one of London’s more affordable boroughs. It has both the second lowest house price to earnings ratio and average rents, at 10.1 and £1,130 pcm respectively.
Good to know:
- The name Havering is recorded in the 1086 Domesday Book as the ancient folk name of Haueringas, which means ‘the settlement of the family of a man called Hæfer’.
- The borough was formerly known as the Royal Liberty of Havering, to which Edward IV granted a charter in 1465.