According to the public record, 5, Chafford Way, Romford is a freehold house.
By comparing it to neighbours, we estimate that it is a mid-century house with 894 ft2 of internal area and a garden.
Houses of this size in this area normally have 3 bedrooms.
Chafford Way, Romford, RM6 is located in the borough of Redbridge within the RM6 postal district.
5, Chafford Way, Romford has a single entry in the Land Registry database from March 2007 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 5 Chafford Way Romford as £434,761 and the rental value as £2,062 per month giving an expected gross yield of 5.7%.
Over the last 12 months the sale value of 5 Chafford Way Romford has decreased by £3,169 (0.7%) and its rental value has increased by £83 per month (4.0%).
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 5, Chafford Way, Romford is in very good condition we estimate a sale value of £456,499 and rental value of £2,165 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £404,328 and a rental value of £1,917 per month.
If you were able to purchase this property for the estimated value of £434,761, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £2,137 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, 5, Chafford Way, Romford was last sold on 23 Mar 2007 for £238,000 and was recorded as a freehold house.
The property has only had this single sale since 1995.
Since Mar 2007, the market for similar properties has risen 77.2%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to 5, Chafford Way, Romford within a radius of 580 metres over the last 2 years.
The most recent example is 80, Freshwell Avenue, Romford, RM6 5DR, a Freehold house which sold for £476,000 in Jul 2023.
Read more about house prices in RM6.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Chafford Way, Romford, RM6 has a total of 20 addresses. According to our analysis of all the public data, 5, Chafford Way, Romford is the 14th largest and the 18th most expensive property on the street.
When compared to the postcode district it is £60k more expensive than the average property in RM6.
The closest station to 5, Chafford Way, Romford is Chadwell Heath station which is 1.5 kilometres 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 5, Chafford Way, Romford, 50.4% of property is privately owned outright and 34.3% 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 5, Chafford Way, Romford, 25.7% of residents are recorded as possessing school level qualifications and 35.9% 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 5, Chafford Way, Romford, the average age was 40.6 and the most common age was 42.
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 5, Chafford Way, Romford, 0.0% 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 5, Chafford Way, Romford, there are an average of 1.1 cars per household.
See below for how this compares to Greater London and the rest of England & Wales.