According to the public record, 7, Prospect Place, Romford is a mid-century apartment with 613 ft2 of internal area.
Apartments of this size in this area normally have 2 bedrooms.
Prospect Place, Romford, RM5 is located in the borough of Havering within the RM5 postal district.
7, Prospect Place, Romford has no records in the Land Registry database and a single entry in the EPC database dated May 2013.
We combine this information with public data 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 7 Prospect Place Romford as £153,918 and the rental value as £936 per month giving an expected gross yield of 7.3%.
Over the last 12 months the sale value of 7 Prospect Place Romford has decreased by £1,333 (0.9%) and its rental value has increased by £54 per month (5.8%).
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 7, Prospect Place, Romford is in very good condition we estimate a sale value of £161,614 and rental value of £983 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £143,144 and a rental value of £871 per month.
If you were able to purchase this property for the estimated value of £153,918, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £756 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 the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to 7, Prospect Place, Romford within a radius of 510 metres over the last 2 years.
The most recent example is 187, Collier Row Lane, Romford, RM5 3JA, a Leasehold flat which sold for £148,000 in Feb 2023.
Read more about house prices in RM5.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Prospect Place, Romford, RM5 has a total of 52 addresses. According to our analysis of all the public data, 7, Prospect Place, Romford is the 21st largest and the 21st most expensive property on the street.
When compared to the postcode district it is £238k less expensive than the average property in RM5.
7, Prospect Place, Romford has an Energy Performance Rating (EPC) of D. This is based on the most recent assessment, dated 28 May 2013.
The property is connected to mains gas and has fully double glazed windows. It is heated using a boiler and radiators.
The closest station to 7, Prospect Place, Romford is Romford station which is 2.1 kilometres away.
The recent census recorded whether a resident owned or rented their home.
In the area around 7, Prospect Place, Romford, 42.0% of property is socially rented and 26.0% is privately owned outright.
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 7, Prospect Place, Romford, 25.4% of residents are recorded as possessing school level qualifications and 19.6% 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 7, Prospect Place, Romford, the average age was 40.2 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 7, Prospect Place, 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 7, Prospect Place, Romford, 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.