According to the public record, Flat 5, Melbury Grange, Bromley is a period leasehold apartment with 1,883 ft2 of internal area.
Apartments of this size in this area normally have 3 bedrooms.
The apartment is in Melbury Grange, Mavelstone Road, Bromley, BR1.
Mavelstone Road, Bromley, BR1 is located in the borough of Bromley within the BR1 postal district.
Flat 5, Melbury Grange, Bromley has 31 entries in the Land Registry database, most recently in May 2022 and a single entry in the EPC database dated April 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 Flat 5 Melbury Grange Bromley as £748,995 and the rental value as £2,807 per month giving an expected gross yield of 4.5%.
Over the last 12 months the sale value of Flat 5 Melbury Grange Bromley has increased by £4,033 (0.5%) and its rental value has increased by £114 per month (4.1%).
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 Flat 5, Melbury Grange, Bromley is in very good condition we estimate a sale value of £786,445 and rental value of £2,947 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £696,566 and a rental value of £2,610 per month.
If you were able to purchase this property for the estimated value of £748,995, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £3,681 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 5, Melbury Grange, Bromley was last sold on 26 May 2022 for £710,000 and was recorded as a leasehold flat.
The property has had 3 sales since 1995.
Since May 2022, the market for similar properties has dropped 2.4%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to Flat 5, Melbury Grange, Bromley within a radius of 830 metres over the last 2 years.
The most recent example is Flat 2, Hillside 15, Park Farm Road, Bromley, BR1 2PF, a Leasehold flat which sold for £785,000 in Jun 2021.
Read more about house prices in BR1.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Mavelstone Road, Bromley, BR1 has a total of 27 addresses. According to our analysis of all the public data, Flat 5, Melbury Grange, Bromley is the 7th largest and the 22nd most expensive property on the street.
When compared to the postcode district it is £222k more expensive than the average property in BR1.
Flat 5, Melbury Grange, Bromley has an Energy Performance Rating (EPC) of E. This is based on the most recent assessment, dated 26 Apr 2021.
The property is connected to mains gas and has single glazed windows. It is heated using a boiler and radiators.
The closest station to Flat 5, Melbury Grange, Bromley is Elmstead Woods station which is 800 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 5, Melbury Grange, Bromley, 47.1% of property is privately owned outright and 41.2% 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 5, Melbury Grange, Bromley, 19.5% of residents are recorded as possessing school level qualifications and 57.6% 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 5, Melbury Grange, Bromley, the average age was 42.8 and the most common age was 47.
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 5, Melbury Grange, Bromley, 3.6% 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 5, Melbury Grange, Bromley, there are an average of 1.7 cars per household.
See below for how this compares to Greater London and the rest of England & Wales.