According to the public record, 47, Verve Apartments 5, Romford is a modern leasehold apartment with 419 ft2 of internal area.
Apartments of this size in this area normally have 1 bedroom.
The apartment is in Verve Apartments, Mercury Gardens, Romford, RM1.
Mercury Gardens, Romford, RM1 is located in the borough of Havering within the RM1 postal district.
47, Verve Apartments 5, Romford has 2 entries in the Land Registry database, most recently in April 2022 and a single entry in the EPC database dated July 2016.
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 good condition, we estimate the current sale value for 47 Verve Apartments 5 Romford as £240,337 and the rental value as £1,115 per month giving an expected gross yield of 5.6%.
Over the last 12 months the sale value of 47 Verve Apartments 5 Romford has decreased by £1,572 (0.7%) and its rental value has increased by £60 per month (5.4%).
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 47, Verve Apartments 5, Romford is in very good condition we estimate a sale value of £252,354 and rental value of £1,171 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £223,513 and a rental value of £1,037 per month.
If you were able to purchase this property for the estimated value of £240,337, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £1,181 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, 47, Verve Apartments 5, Romford was last sold on 29 Apr 2022 for £250,000 and was recorded as a leasehold flat.
The property has had 2 sales since 1995.
Since Apr 2022, the market for similar properties has dropped 1.8%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to 47, Verve Apartments 5, Romford within a radius of 420 metres over the last 2 years.
The most recent example is 25, Verve Apartments 5, Mercury Gardens, Romford, RM1 3FB, a Leasehold flat which sold for £250,000 in Aug 2022.
Read more about house prices in RM1.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Mercury Gardens, Romford, RM1 has a total of 317 addresses. According to our analysis of all the public data, 47, Verve Apartments 5, Romford is the 285th largest and the 231st most expensive property on the street.
When compared to the postcode district it is £154k less expensive than the average property in RM1.
47, Verve Apartments 5, Romford has an Energy Performance Rating (EPC) of D. This is based on the most recent assessment, dated 28 Jul 2016.
The property is not connected to mains gas and has high performance glazing. It is heated using an electric boiler and radiators.
The closest station to 47, Verve Apartments 5, Romford is Romford station which is 400 metres away.
The recent census recorded whether a resident owned or rented their home.
In the area around 47, Verve Apartments 5, Romford, 50.0% of property is privately rented and 29.1% is socially rented.
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 47, Verve Apartments 5, Romford, 19.4% of residents are recorded as possessing school level qualifications and 38.5% 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 47, Verve Apartments 5, Romford, the average age was 37 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 47, Verve Apartments 5, Romford, 0.7% 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 47, Verve Apartments 5, Romford, there are an average of 0.4 cars per household.
See below for how this compares to Greater London and the rest of England & Wales.