According to the public record, 56A, Prospect Road, Woodford Green is a mid-century leasehold apartment with 581 ft2 of internal area.
Apartments of this size in this area normally have 2 bedrooms.
The apartment is in 56, Prospect Road, Woodford Green, IG8.
Prospect Road, Woodford Green, IG8 is located in the borough of Redbridge within the IG8 postal district.
56A, Prospect Road, Woodford Green has 21 entries in the Land Registry database, most recently in January 2022 and a single entry in the EPC database dated July 2021.
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 56A Prospect Road Woodford Green as £303,617 and the rental value as £1,557 per month giving an expected gross yield of 6.2%.
Over the last 12 months the sale value of 56A Prospect Road Woodford Green has increased by £5,442 (1.8%) and its rental value has increased by £33 per month (2.1%).
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 56A, Prospect Road, Woodford Green is in very good condition we estimate a sale value of £318,798 and rental value of £1,634 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £282,364 and a rental value of £1,448 per month.
If you were able to purchase this property for the estimated value of £303,617, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £1,492 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, 56A, Prospect Road, Woodford Green was last sold on 05 Jan 2022 for £257,500 and was recorded as a leasehold flat.
The property has had 2 sales since 1995.
Since Jan 2022, the market for similar properties has dropped 0.4%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to 56A, Prospect Road, Woodford Green within a radius of 500 metres over the last 2 years.
The most recent example is 62A, Prospect Road, Woodford Green, IG8 7NA, a Leasehold flat which sold for £300,000 in Jun 2024.
Read more about house prices in IG8.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Prospect Road, Woodford Green, IG8 has a total of 302 addresses. According to our analysis of all the public data, 56A, Prospect Road, Woodford Green is the 226th largest and the 217th most expensive property on the street.
When compared to the postcode district it is £327k less expensive than the average property in IG8.
56A, Prospect Road, Woodford Green has an Energy Performance Rating (EPC) of C. This is based on the most recent assessment, dated 21 Jul 2021.
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 56A, Prospect Road, Woodford Green is Woodford station which is 400 metres away.
The recent census recorded whether a resident owned or rented their home.
In the area around 56A, Prospect Road, Woodford Green, 42.5% of property is socially rented and 23.9% is privately 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 56A, Prospect Road, Woodford Green, 17.5% of residents are recorded as possessing school level qualifications and 34.2% 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 56A, Prospect Road, Woodford Green, the average age was 38.8 and the most common age was 37.
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 56A, Prospect Road, Woodford Green, 1.5% 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 56A, Prospect Road, Woodford Green, there are an average of 0.6 cars per household.
See below for how this compares to Greater London and the rest of England & Wales.