According to the public record, Flat 40, Lux Building, Romford is a modern leasehold apartment with 355 ft2 of internal area.
Apartments of this size in this area normally have 1 bedroom with a balcony.
The apartment is in Lux Building, Maxwell Road, Romford, RM7.
Maxwell Road, Romford, RM7 is located in the borough of Havering within the RM7 postal district.
Flat 40, Lux Building, Romford has a single entry in the Land Registry database from September 2014 and a single entry in the EPC database dated May 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 Flat 40 Lux Building Romford as £188,402 and the rental value as £999 per month giving an expected gross yield of 6.4%.
Over the last 12 months the sale value of Flat 40 Lux Building Romford has decreased by £3,019 (1.6%) and its rental value has increased by £38 per month (3.8%).
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 40, Lux Building, Romford is in very good condition we estimate a sale value of £197,822 and rental value of £1,049 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £175,214 and a rental value of £929 per month.
If you were able to purchase this property for the estimated value of £188,402, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £926 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 40, Lux Building, Romford was last sold on 12 Sep 2014 for £158,995 and was recorded as a leasehold flat.
The property has only had this single sale since 1995.
Since Sep 2014, the market for similar properties has risen 42.3%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to Flat 40, Lux Building, Romford within a radius of 470 metres over the last 2 years.
The most recent example is Flat 10, Wells Court, Regarth Avenue, Romford, RM1 1AL, a Leasehold flat which sold for £179,000 in Nov 2019.
Read more about house prices in RM7.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Maxwell Road, Romford, RM7 has a total of 493 addresses. According to our analysis of all the public data, Flat 40, Lux Building, Romford is the 492nd largest and the 492nd most expensive property on the street.
When compared to the postcode district it is £188k less expensive than the average property in RM7.
Flat 40, Lux Building, Romford has an Energy Performance Rating (EPC) of C. This is based on the most recent assessment, dated 16 May 2024.
The property is not connected to mains gas and has fully double glazed windows. It is heated using an electric boiler and radiators.
The closest station to Flat 40, Lux Building, Romford is Romford station which is 500 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 40, Lux Building, Romford, 43.7% of property is privately rented and 35.0% 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 Flat 40, Lux Building, Romford, 11.1% of residents are recorded as possessing school level qualifications and 35.4% 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 40, Lux Building, Romford, the average age was 35.1 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 40, Lux Building, 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 Flat 40, Lux Building, Romford, there are an average of 0.5 cars per household.
See below for how this compares to Greater London and the rest of England & Wales.