According to the public record, 8, Sphere Apartments 42, Romford is a modern leasehold apartment with 656 ft2 of internal area.
Apartments of this size in this area normally have 2 bedrooms with a balcony.
The apartment is in Sphere Apartments, Hainault Road, Romford, RM5.
Hainault Road, Romford, RM5 is located in the borough of Havering within the RM5 postal district.
8, Sphere Apartments 42, Romford has a single entry in the Land Registry database from November 2022 and a single entry in the EPC database dated September 2017.
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 8 Sphere Apartments 42 Romford as £258,773 and the rental value as £1,410 per month giving an expected gross yield of 6.5%.
Over the last 12 months the sale value of 8 Sphere Apartments 42 Romford has decreased by £5,873 (2.3%) and its rental value has increased by £56 per month (3.9%).
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 8, Sphere Apartments 42, Romford is in very good condition we estimate a sale value of £271,712 and rental value of £1,480 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £240,659 and a rental value of £1,311 per month.
If you were able to purchase this property for the estimated value of £258,773, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £1,272 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, 8, Sphere Apartments 42, Romford was last sold on 14 Nov 2022 for £258,000 and was recorded as a leasehold flat.
The property has only had this single sale since 1995.
Since Nov 2022, the market for similar properties has dropped 4.2%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to 8, Sphere Apartments 42, Romford within a radius of 540 metres over the last 2 years.
The most recent example is 2, Sphere Apartments 42, Hainault Road, Romford, RM5 3AL, a Leasehold flat which sold for £260,000 in Mar 2021.
Read more about house prices in RM5.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Hainault Road, Romford, RM5 has a total of 159 addresses. According to our analysis of all the public data, 8, Sphere Apartments 42, Romford is the 141st largest and the 142nd most expensive property on the street.
When compared to the postcode district it is £133k less expensive than the average property in RM5.
8, Sphere Apartments 42, Romford has an Energy Performance Rating (EPC) of C. This is based on the most recent assessment, dated 22 Sep 2017.
The property is connected to mains gas and has fully double glazed windows. It is heated using electric storage heaters.
The closest station to 8, Sphere Apartments 42, Romford is Romford station which is 1.6 kilometres away.
The recent census recorded whether a resident owned or rented their home.
In the area around 8, Sphere Apartments 42, Romford, 54.3% of property is privately owned with a mortgage and 29.3% 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 8, Sphere Apartments 42, Romford, 19.2% of residents are recorded as possessing school level qualifications and 37.0% 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 8, Sphere Apartments 42, 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 8, Sphere Apartments 42, Romford, 1.3% 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 8, Sphere Apartments 42, Romford, there are an average of 1.3 cars per household.
See below for how this compares to Greater London and the rest of England & Wales.