According to the public record, Flat 7, Lux Building, Romford is a modern leasehold apartment with 505 ft2 of internal area.
Apartments of this size in this area normally have 2 bedrooms 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 7, Lux Building, Romford has 2 entries in the Land Registry database, most recently in August 2022 and a single entry in the EPC database dated July 2014.
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 7 Lux Building Romford as £231,914 and the rental value as £1,257 per month giving an expected gross yield of 6.5%.
Over the last 12 months the sale value of Flat 7 Lux Building Romford has decreased by £2,995 (1.3%) and its rental value has increased by £52 per month (4.2%).
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 7, Lux Building, Romford is in very good condition we estimate a sale value of £243,509 and rental value of £1,320 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £215,680 and a rental value of £1,169 per month.
If you were able to purchase this property for the estimated value of £231,914, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £1,140 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 7, Lux Building, Romford was last sold on 30 Aug 2022 for £221,000 and was recorded as a leasehold flat.
The property has had 2 sales since 1995.
Since Aug 2022, the market for similar properties has dropped 3.4%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to Flat 7, Lux Building, Romford within a radius of 470 metres over the last 2 years.
The most recent example is Flat 28, Wave Court, Maxwell Road, Romford, RM7 0FA, a Leasehold flat which sold for £225,000 in Oct 2023.
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 7, Lux Building, Romford is the 408th largest and the 438th most expensive property on the street.
When compared to the postcode district it is £144k less expensive than the average property in RM7.
Flat 7, Lux Building, Romford has an Energy Performance Rating (EPC) of B. This is based on the most recent assessment, dated 31 Jul 2014.
The property is not connected to mains gas and has fully double glazed windows. It is heated using a community scheme.
The closest station to Flat 7, Lux Building, Romford is Romford station which is 500 metres away.
The recent census recorded whether a resident owned or rented their home.
In the area around Flat 7, 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 7, 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 7, 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 7, 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 7, 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.