W J Meade says ..

Property Oracle says ..

The property is a 2 bedroom flat located on Ropery Street in Mile End, Tower Hamlets. It’s listed at £500,000 and has 644 sqft of living space. The average price for a property in the area is £428,040, with an average price per sqft of £457. The flat appears to be in excellent condition. The photos show a recently renovated interior with modern fixtures and fittings. The kitchen and bathroom are modern and well-maintained. The property benefits from a basement. While the plot size is listed as 0.00 sqft, the property is located in a densely populated urban area, so a lack of outdoor space is expected for this type of property. The location is good, with several schools and transportation options nearby. The proximity to Mile End Children’s Centre, Beatrice Tate School (Outstanding Ofsted rating), and several other schools makes it attractive to families. The relatively close proximity to Limehouse station (c2c) provides good transport links. Considering the average price per sqft in the area (£457) and the property’s size (644 sqft), a rough estimate of the expected price would be around £293,708. However, the list price of £500,000 is significantly higher. This discrepancy might be due to several factors, including the property’s excellent condition, its location, and the lack of comparable properties with similar specifications in the immediate vicinity. The higher price of nearby terraced houses on Ropery Street also supports a higher price for this flat. More information is needed to fully assess the value.

Therefore, we give this property 6 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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