According to the public record, 7 Wellmead, Ilford is a mid-century leasehold apartment with 753 ft2 of internal area.
Apartments of this size in this area normally have 3 bedrooms.
The apartment is in Wellmead, Wellwood Road, Ilford, IG3.
Wellwood Road, Ilford, IG3 is located in the borough of Redbridge within the IG3 postal district.
7 Wellmead, Ilford has a single entry in the Land Registry database from July 2008 and a single entry in the EPC database dated June 2024.
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 7 Wellmead Ilford as £243,084 and the rental value as £1,496 per month giving an expected gross yield of 7.4%.
Over the last 12 months the sale value of 7 Wellmead Ilford has increased by £2,706 (1.1%) and its rental value has increased by £71 per month (4.8%).
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 Wellmead, Ilford is in very good condition we estimate a sale value of £255,238 and rental value of £1,571 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £226,068 and a rental value of £1,391 per month.
If you were able to purchase this property for the estimated value of £243,084, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £1,195 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, 7 Wellmead, Ilford was last sold on 17 Jul 2008 for £167,500 and was recorded as a leasehold flat.
The property has only had this single sale since 1995.
Since Jul 2008, the market for similar properties has risen 63.6%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to 7 Wellmead, Ilford within a radius of 460 metres over the last 2 years.
The most recent example is 9 Wellmead, Wellwood Road, Ilford, IG3 8TX, a Leasehold flat which sold for £200,000 in Feb 2017.
Read more about house prices in IG3.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Wellwood Road, Ilford, IG3 has a total of 179 addresses. According to our analysis of all the public data, 7 Wellmead, Ilford is the 84th largest and the 143rd most expensive property on the street.
When compared to the postcode district it is £224k less expensive than the average property in IG3.
7 Wellmead, Ilford has an Energy Performance Rating (EPC) of C. This is based on the most recent assessment, dated 02 Jun 2024.
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 Wellmead, Ilford is Goodmayes station which is 400 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 7 Wellmead, Ilford, 56.1% of property is privately rented and 17.1% 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 Wellmead, Ilford, 26.7% of residents are recorded as possessing school level qualifications and 38.1% 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 Wellmead, Ilford, the average age was 34.6 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 7 Wellmead, Ilford, 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 Wellmead, Ilford, there are an average of 0.8 cars per household.
See below for how this compares to Greater London and the rest of England & Wales.