According to the public record, 2 Mercury Court, Romford is a leasehold apartment.
By comparing it to neighbours, we estimate that it is a modern apartment with 635 ft2 of internal area and a balcony.
Apartments of this size in this area normally have 2 bedrooms.
The apartment is in Mercury Court, Victoria Road, Romford, RM1.
Victoria Road, Romford, RM1 is located in the borough of Havering within the RM1 postal district.
2 Mercury Court, Romford has 21 entries in the Land Registry database, most recently in September 2019 and no records in the EPC database.
We combine this sold price information with public data of neighbouring properties to estimate the attributes and values.
Based on public information available, and assuming the property is in reasonable condition, we estimate the current sale value for 2 Mercury Court Romford as £241,584 and the rental value as £1,359 per month giving an expected gross yield of 6.7%.
Over the last 12 months the sale value of 2 Mercury Court Romford has decreased by £5,564 (2.3%) and its rental value has increased by £48 per month (3.6%).
Decorative condition can have a big effect on a property's value and this effect varies depending on the type, size and location of the property.
If 2 Mercury Court, Romford is in very good condition we estimate a sale value of £253,663 and rental value of £1,426 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £224,673 and a rental value of £1,263 per month.
If you were able to purchase this property for the estimated value of £241,584, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £1,187 per month.
This figure is only an estimate but we've partnered with Mortgage Advice Bureau who can provide a figure tailored for you! Get started using their mortgage finder below.
According to HM Land Registry, 2 Mercury Court, Romford was last sold on 20 Sep 2019 for £255,000 and was recorded as a leasehold flat.
The property has had 2 sales since 1995.
Since Sep 2019, the market for similar properties has risen 3.1%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to 2 Mercury Court, Romford within a radius of 400 metres over the last 2 years.
The most recent example is Flat 23, Southbury Court, South Street, Romford, RM1 1SY, a Leasehold flat which sold for £200,000 in May 2024.
Read more about house prices in RM1.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Victoria Road, Romford, RM1 has a total of 351 addresses. According to our analysis of all the public data, 2 Mercury Court, Romford is the 221st largest and the 184th most expensive property on the street.
When compared to the postcode district it is £153k less expensive than the average property in RM1.
The closest station to 2 Mercury Court, Romford is Romford station which is 200 metres away.
The recent census recorded whether a resident owned or rented their home.
In the area around 2 Mercury Court, Romford, 50.5% of property is privately rented and 19.9% is privately owned with a mortgage.
The graph below shows how this compares to Greater London and the rest of England & Wales.
The recent census recorded the highest level of education achieved by residents in the local area.
In the area around 2 Mercury Court, Romford, 20.7% of residents are recorded as possessing school level qualifications and 36.9% as possessing degree level qualifications.
The graph below shows how this compares to Greater London and the rest of England & Wales
The most recent census in 2021 recorded the age of all UK residents.
In the area around 2 Mercury Court, Romford, the average age was 36.6 and the most common age was 32.
The graph below shows how this compares to Greater London and the rest of England & Wales
The recent census recorded whether a property was a primary or secondary home for the resident.
In the area around 2 Mercury Court, Romford, 1.1% of property was a second home.
Comparison figures for Greater London and the rest of England & Wales are listed below.
The recent census recorded the number of cars registered in each household.
In the area around 2 Mercury Court, Romford, there are an average of 0.7 cars per household.
See below for how this compares to Greater London and the rest of England & Wales.