According to the public record, 40, Payne Close, Barking is a modern leasehold apartment with 520 ft2 of internal area.
Apartments of this size in this area normally have 2 bedrooms.
Payne Close, Barking, IG11 is located in the borough of Barking and Dagenham within the IG11 postal district.
40, Payne Close, Barking has 31 entries in the Land Registry database, most recently in July 2012 and a single entry in the EPC database dated January 2012.
We combine this information with that of neighbouring properties to estimate the property attributes and values.
Based on public information available, and assuming the property is in reasonable condition, we estimate the current sale value for 40 Payne Close Barking as £253,558 and the rental value as £1,455 per month giving an expected gross yield of 6.9%.
Over the last 12 months the sale value of 40 Payne Close Barking has increased by £4,185 (1.7%) and its rental value has increased by £82 per month (5.6%).
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 40, Payne Close, Barking is in very good condition we estimate a sale value of £266,236 and rental value of £1,528 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £235,809 and a rental value of £1,353 per month.
If you were able to purchase this property for the estimated value of £253,558, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £1,246 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, 40, Payne Close, Barking was last sold on 24 Jul 2012 for £163,000 and was recorded as a leasehold flat.
The property has had 3 sales since 1995.
Since Jul 2012, the market for similar properties has risen 71.3%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to 40, Payne Close, Barking within a radius of 430 metres over the last 2 years.
The most recent example is 78, Champness Road, Barking, IG11 9PD, a Leasehold flat which sold for £195,000 in Jul 2023.
Read more about house prices in IG11.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Payne Close, Barking, IG11 has a total of 45 addresses. According to our analysis of all the public data, 40, Payne Close, Barking is the 40th largest and the 40th most expensive property on the street.
When compared to the postcode district it is £87k less expensive than the average property in IG11.
40, Payne Close, Barking has an Energy Performance Rating (EPC) of C. This is based on the most recent assessment, dated 21 Jan 2012.
The property is not connected to mains gas and has fully double glazed windows. It is heated using electric storage heaters.
The closest station to 40, Payne Close, Barking is Upney station which is 300 metres away.
According to data from the Environment Agency, the flood risk in this area is considered to be very low.
The recent census recorded whether a resident owned or rented their home.
In the area around 40, Payne Close, Barking, 40.3% of property is privately rented and 27.8% 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 40, Payne Close, Barking, 25.1% of residents are recorded as possessing school level qualifications and 42.5% 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 40, Payne Close, Barking, the average age was 34.7 and the most common age was 22.
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 40, Payne Close, Barking, 0.2% 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 40, Payne Close, Barking, there are an average of 1.0 cars per household.
See below for how this compares to Greater London and the rest of England & Wales.