What are the most popular types of property in Romford?
Last year, we offered an update on Romford’s housing market to let sellers know everything they needed to know about the town which straddles the East London-Essex border.
Here, we zone in on the most popular property types in this in-demand commuter hub, which has a population of around 82,000.
Knowing this information can help you when it comes to selling your home, as properties which are popular among buyers are much more likely to sell quickly than property types which hold little to no appeal.
Terraced properties rule the roost
According to Rightmove, most of the sales in Romford over the past year were terraced properties, which on average sold for £365,423, while semi-detached homes and flats were also popular. The property portal says overall average prices in Romford in the past year were 3% up on the year before and 5% up on 2017, when they averaged at £345,246 – a promising sign for sellers looking to sell here.
Spacious three-bed terraced homes – perfect for families – are commonplace in Romford, offering buyers more room to breathe. By virtue of being right on the outer fringes of London, Romford has that rarest of commodities in the capital: space, with homes likely to be less crammed in and streets designed for residential purposes.
End of terrace homes – often two-beds – are also popular, as are two-bed semi-detached houses and stylish modern flats close to local amenities and excellent transport links.
Bigger, grander houses – with higher prices to match – can also be found in some of Romford’s more exclusive streets, such as Stapleford Road and Coleridge Road.
Meanwhile, bungalows and maisonettes are rarer, but generate a decent level of demand for those looking to downsize (bungalows) or for young buyers looking to take their first step on the ladder with a more affordable property (one and two-bed maisonettes).
An in-demand location
Across all property types, Romford was a desirable town for buyers in 2019, with the town finishing in third place in a Rightmove study of the most popular locations for homebuyers.
It emerged as the third most searched-for area in London by home seekers on Rightmove in 2019, behind only fashionable Wimbledon and up-and-coming Bromley.
Affordability and transport links were almost certainly drivers for this high demand, with stylish period semis on offer from around £350,000, and detached and terraced homes on the market for more affordable prices than more central parts of London.
There is also a reason why it’s known as a commuter town, with Overground, TfL Rail (the precursor to Crossrail) and greateranglia services all on offer, ferrying people to London Liverpool Street in around 30 minutes.
Once Crossrail (the Elizabeth Line) is fully operational, Romford will be one of the key destinations on the eastern section of the line, with a journey time of only 35 minutes to Bond Street, 28 minutes to Canary Wharf, and just over an hour to Heathrow Terminals. Reading, on the other end of the line, will take only 88 minutes once the line is fully functioning (now expected to be the summer or autumn of 2021 after numerous delays and setbacks).
Road links are also strong, with the M25 and A12 nearby, there is a frequent bus service linking Romford to other parts of Essex and East London, Lakeside Shopping Centre in nearby Grays is only a 20 minute drive away and Southend-on-Sea, for those fancying a day at the beach during the summer, is about a 45 minute drive.
Romfordians are also well-connected when it comes to air travel, with Southend Airport a 42- minute journey by car, while Stansted Airport is only a 37-minute drive assuming there is no traffic.
As well as Crossrail and the excellent commuter links, another major selling point to buyers is the fact that Romford is one of the Mayor of London Sadiq Khan’s 30 ‘Housing Zones’. This means thousands of new homes and local infrastructure improvements are planned to regenerate the area.
Why would buyers choose Romford?
While its transport links are its biggest appeal, it is a thriving town in its own right, with a good old-fashioned outdoor market on Wednesdays, Fridays and Saturdays, a number of shopping malls including The Brewery and The Liberty Shopping Centre, leisure venues such as Sapphire Ice & Leisure Centre, entertainment outlets such as Premiere Cinemas and Vue, and a wide range of pubs, bars, restaurants and fast food chains.
Green space is provided by Lodge Farm Park and Raphael Park, while Gidea Park is also nearby. In addition, Romford is home to one of London’s last surviving greyhound racing tracks, with the 1,700-capacity Coral Romford Greyhound Stadium still drawing in the punters.
We’ve also previously looked at the various leisure activities on offer in Romford, including the Romford Film Festival and The Havering Show, which could be used as part of your sales pitch to buyers – selling the town as an all-year round destination.
Here at Balgores Property Group, we can help you to get your property sold in Romford for the best possible price. To discover more about how we can help you to sell your Romford property, please get in touch with us at one of our offices.
If you would like to see how much your home could be worth on the current market, you can request a free and instant online valuation.
This short YouTube video also explains in 60 seconds why people should consider buying in Romford.