Decline in Havering house prices has stopped, analysis shows
17:14 12 September 2012
House prices have stopped falling in Havering, analysis by the Recorder has found.
Figures from estate agent Zoopla – who power the Recorder’s Homes24.co.uk website – show that in the last 12 months property prices have stopped falling.
The same analysis last year found that prices in Havering postcodes had fallen dramatically – with RM1 experiencing a loss of almost £9,000 over the previous year.
But in the last 12 months every single postcode in the borough has seen virtually no further drop in prices.
The RM2 postcode has seen the largest rise in property value – although it is less than 1 per cent.
Andrew Wallington, of Haart Estate Agents in Romford, said: “I think we’ve been on the flatline, maybe you see a little rise quite because demand is high and there aren’t too many properties available.”
Local government secretary Eric Pickles announced last week that planning laws would be relaxed to enable more houses to be built.
Mr Pickles promised to make the planning process clearer, and also threatened to strip some councils of their powers in the area.
He said: “We propose to legislate to allow applications to be decided by the Planning Inspectorate, if the local authority has a track record of consistently poor performance in the speed or quality of its decisions.”
But Cllr Clarence Barrett, leader of the Residents’ Association on Havering Council, said that relaxing planning permission would be more likely to create disputes between neighbours.
He added: “While there is a need to stimulate growth through building works, why not reduce the level of VAT or Stamp Duty thresholds rather than pursue schemes like this?”