New Build Investor Guide – Havering
May 2021
Buying a new build property off plan? Check out our Area Guide first
Are you considering purchasing a new build, off plan property in Brent? Want to get the latest information on house prices, demographics and other useful information before you commit to a deal?
Our Area Guides give you the latest relevant information from local governments, the Census and the Office of National Statistics (ONS) data. They’re designed for offshore, new build property investors to help you understand an area in detail so you can make informed investment decisions.
Read on for investor details specifically about Brent but if it’s more detail about the wider UK property market you need, you can download our latest report here. In our report we address two key questions:
1 Is investing in UK residential property still worth it?
2 If so, where are the best opportunities for property investors and why?
Havering, London
Havering is one of 20 outer London boroughs and is located in east London. Spanning over 43 square miles, it is the 3rd largest London borough by area. Havering is a largely suburban and is the most easterly of all London boroughs. It borders the county of Essex and the London boroughs Redbridge and Barking & Dagenham. It includes the main towns, Romford, Hornchurch, Rainham and Upminster.
Demographics
Havering’s population is forecast to grow by just over 16% by 2030
| Population (2018) | 257,511 |
| Forecast Population 2030 | 298,889 |
Source: data.london.gov.uk
Economically Active Population
A largely young, diverse, mobile population.
| Age Range | Percentage of population |
| 16 – 64 | 61% |
| Under 15 | 21% |
| Over 65 | 18% |
| Martial Status: | |
| Single | 33% |
Source: data.london.gov.uk
Average Life Expectancy
The average life expectancies for those born in Havering between 2016 and 2018 are below.
| Males | 80 (UK average is 79). Males born in Havering have the 8th shortest life expectancy of all London boroughs. |
| Females | 84 (UK average is 83). Females born in Havering have the 12th shortest life expectancy of all London boroughs. |
Source: ons.gov.uk
Population Density (2011)
Havering has 2,310 people per km2. Lower than the London average of 5,701 people per km2 and the 2nd lowest density of all London boroughs.
Source: ons.gov.uk
International Migration (2018-19)
1,495 new residents from overseas moved to Havering in 2018 -2019. Twenty-nine other London borough’s welcomed more new residents from overseas than Havering.
Source: ons.gov.uk
Country of Birth
| Location of Birth | Proportion of Population |
| UK and Ireland | 91% |
| EU | 2% |
| Other countries | 7% |
Source: data.london.gov.uk
Crime & Safety
| Crime Numbers (April 2017 – March 2018) | 18,418 |
| Crime rate per 1,000 population (April 2017 -March 2018) | 73 |
| Havering has the 9th lowest crime rate per 1,000 people of all London boroughs. |
Source: data.london.gov.uk
Education
Schools
| Primary Schools | 70 (11 of which have an Ofsted rating of outstanding) |
| Secondary Schools | 26 (2 of which have an Ofsted rating of outstanding) |
| Schools and Colleges (16-18 years) | 11 (1 of which have an Ofsted rating of outstanding) |
Source: compare-school-performance.service.gov.uk
Universities
London South Bank University – Havering Campus
Hospitals
General Wellbeing
| Population considering themselves in very good health | 46% |
| Population considering themselves in very bad health | 1% |
Source: data.london.gov.uk
Employment & Economy
77% of working aged people employed (compared to 75% across England 74% across London).
Top 4 Sectors of Employment
| Public administration, education and health | 31% |
| Finance, banking and insurance | 24% |
| Distribution, hotels and restaurants | 13% |
| Transport and communications | 11% |
Source: data.london.gov.uk
Major Employers
In 2020, there were 25 companies in the borough employing more than 250 people and 105 companies employing between 50 and 249 people. (source: nomisweb.co.uk).
Jobs and Job density
Aproximately 47,260 residents of Havering also work in the borough. 28,723 people travel into the borough each day for work and 57,271 residents work outside the borough. The daytime population of the borough therefore decreases by 28,548 people each day. (source: data.london.gov.uk).
| Median Gross Annual Pay for full-time employee jobs (2017) | £31,365 |
| Number of jobs in the borough (2019) | 92,000 |
| Jobs per resident | 0.49 (London average 1.03 and UK average 0.87) |
Source: nomisweb.co.uk and data.london.gov.uk
Housing
| Number of residential properties in Havering | 104,550 |
Source: data.london.gov.uk
Property Ownership (2018)
| own property outright (no mortgage) | 41% |
| own property with mortgage | 34% |
| rent from a Housing Authority or the Local Authority | 15% |
| rent from a private landlord (representing approximately 9,800 private rentals) | 10% |
Source: data.london.gov.uk
| Household with no car or van (2011) | 23% |
Source: nomisweb.co.uk
Household Composition
| One person households | 29% |
| One family households | 65% |
| Other (sharers / students etc) | 6% |
Source: nomisweb.co.uk
Average House Prices
Average house prices in Havering are the fifth cheapest of the 32 London boroughs and prices rose by over 7% between January 2020 and January 2021. Of the 10 cheapest London borough’s average house prices in Havering grew the most.
| Average achieved price January 2020 | £361,024 |
| Average achieved price January 2021 | £387,744 |
| Increase/Decrease | +7.4% |
Source: www.gov.uk
Volume of Sales
During the COVID pandemic, the number of property transactions in the borough of Havering fell by 15%. Twenty-five London boroughs saw larger falls in transaction volumes.
| Number of residential sales to year ending September 2019 | 3,130 |
| Number of residential sales to year ending September 2020 | 2,671 |
Source: ons.gov.uk
Achieved Rents (January to December 2020)
Mean monthly average rents in the London Borough of Havering:
| London Median Rents (per calendar month) |
Havering (per calendar month) |
|
| Studio | £950 | £700 |
| 1 bedroom | £1,200 | £900 |
| 2 bedrooms | £1,450 | £1,120 |
| 3 bedrooms | £1,750 | £1,375 |
Source: london.gov.uk
New Build Developments in Havering
There are three large new build developments in Havering with apartments currently available for sale. Average asking prices for three of these developments are set out below.
Knightswood Place (Persimmon)
| Total Number of Houses and Apartments | 394 (343private) |
| First launched | September 2018 |
Average Apartment Prices – Knightswood Place
| Minimum | Average | Maximum | |
| 2 Bedroom | £300,000 | £308,611 | £340,000 |
source: Molior
St George’s Park (Bellway)
| Total Number of Apartments and Houses | 290 (264 private) |
| First Launched | November 2019 |
Average Apartment Prices – St George’s Park
| Minimum | Average | Maximum | |
| 2 Bedroom | £297,995 | £346,495 | £399,995 |
source: Molior
Papermill House (Galliard)
| Total Number of apartments | 109 |
| First Launched | September 2020 |
Average Price – Papermill House
| Minimum | Average | Maximum | |
| Price | £199,000 | £235,308 | £400,000 |
| Price per ft² | £503 | £639 | £719 |
| Area (ft²) | 304 | 377 | 795 |
source: Molior
| Minimum | Average | Maximum | |
| Studio | £199,000 | £212,000 | £220,000 |
| 1 Bedroom | £230,000 | £235,000 | £245,000 |
| 2 Bedroom | £400,000 | £400,000 | £400,000 |
source: Molior
Environment & Leisure
Havering has more than 25 parks and and open spaces. Fourteen of these have been awarded ‘Green Flag’ status – a national award that recognises the best green and open spaces in the country.
3 leisure centres
Facilities to hire including:
Football pitches
Cricket pitches
Rugby pitches
Bowls Green
Hockey pitches
Tennis Courts
10 libraries
Transport
Havering’s overground and underground stations are in Zone 6.
Overground Stations
| Emmerson Park | Gidea Park |
| Harold Wood | Rainham (Essex) |
| Romford | Upminster |
Underground Stations
| Elm Park (District line) | Hornchurch (District line) |
| Upminster Bridge (District line) | Upminster (District line) |
Local Government
The Labour Party
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