According to the public record, Flat 2, 42, Palace Grove, Bromley is a modern leasehold apartment with 667 ft2 of internal area.
Apartments of this size in this area normally have 2 bedrooms.
The apartment is in 42, Palace Grove, Bromley, BR1.
Palace Grove, Bromley, BR1 is located in the borough of Bromley within the BR1 postal district.
Flat 2, 42, Palace Grove, Bromley has a single entry in the Land Registry database from January 2024 and a single entry in the EPC database dated October 2020.
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 good condition, we estimate the current sale value for Flat 2 42 Palace Grove Bromley as £280,665 and the rental value as £1,498 per month giving an expected gross yield of 6.4%.
Over the last 12 months the sale value of Flat 2 42 Palace Grove Bromley has increased by £5,188 (1.8%) and its rental value has increased by £72 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 Flat 2, 42, Palace Grove, Bromley is in very good condition we estimate a sale value of £294,699 and rental value of £1,573 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £261,019 and a rental value of £1,393 per month.
If you were able to purchase this property for the estimated value of £280,665, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £1,379 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, Flat 2, 42, Palace Grove, Bromley was last sold on 12 Jan 2024 for £250,000 and was recorded as a leasehold flat.
The property has only had this single sale since 1995.
Since Jan 2024, the market for similar properties has risen 3.1%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to Flat 2, 42, Palace Grove, Bromley within a radius of 400 metres over the last 2 years.
The most recent example is 7, Constable Mews, Bromley, BR1 3BF, a Leasehold flat which sold for £258,000 in Jan 2024.
Read more about house prices in BR1.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Palace Grove, Bromley, BR1 has a total of 135 addresses. According to our analysis of all the public data, Flat 2, 42, Palace Grove, Bromley is the 48th largest and the 58th most expensive property on the street.
When compared to the postcode district it is £246k less expensive than the average property in BR1.
Flat 2, 42, Palace Grove, Bromley has an Energy Performance Rating (EPC) of C. This is based on the most recent assessment, dated 08 Oct 2020.
The property is not connected to mains gas and has high performance glazing. It is heated using a boiler with both radiators and underfloor heating.
The closest station to Flat 2, 42, Palace Grove, Bromley is Bromley North station which is 200 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 Flat 2, 42, Palace Grove, Bromley, 51.7% of property is privately rented and 20.7% 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 Flat 2, 42, Palace Grove, Bromley, 18.4% of residents are recorded as possessing school level qualifications and 55.9% 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 Flat 2, 42, Palace Grove, Bromley, the average age was 38.2 and the most common age was 32.
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 Flat 2, 42, Palace Grove, Bromley, 0.6% 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 Flat 2, 42, Palace Grove, Bromley, 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.