Are we heading for a House Price Crash in Walsall?


Are we heading for a House Price Crash in Walsall?

Walsall house prices rose by 2.7% last month, according to the Land Registry. This means the annual rate of house price growth in Walsall has increased from 3.9% last year to 19.8% this year.  That is a whopping increase of 15.9%!!

Looking at the national figures, many people were concerned the UK property market was overheating as spring saw annual growth of 9.9%, the highest rate of house price growth documented since June 2007 when national house prices were rising by 10.8% p.a.

It was only a matter of a few months later the Credit Crunch hit, and the average value of a UK home plummeted from £190,032 to £154,452 in 18 months, a drop of 18.7%.

Government economic measures such as the Furlough Scheme and the Stamp Duty Holiday have so far shielded the Walsall property market from the worst economic recession since 1709.

So, the question is, can this growth in Walsall house prices continue, or is this the start of a house price crash?

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The Government’s 5% Mortgage Scheme and it’s Effect on the Walsall Property Market Explained

Walsall’s Goverment Backed 5% Deposit Mortgage Scheme

Just before lockdown there were around 400 ‘5% deposit mortgage’ deals and first-time buyers were able to shop around to get the best deal. When the first lockdown hit, 5% deposit mortgages disappeared, meaning that as many Walsall would-be first-time buyers were about to buy their first Walsall home in 2020, the rug was pulled from under their feet.

Today, you can count on two hands the number of mortgage deals which allow a 5% deposit.  Even worse, the number of hoops one has to jump through to get a 5% deposit mortgage is very high.  On top of that, you have to pay handsomely for the privilege, with mortgage rates of at least 3.95%.

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Moving House in Walsall During Covid Times

Moving House in Walsall During Covid Times


The property sector as a whole has been one of the highlights of the COVID-19 story so far.  After a shutdown of the industry in the first lockdown, the Government gave the go ahead for estate agents and lettings agents in Walsall to continue to work, meaning that people could still move.

The slight easing of restrictions coupled with the Stamp Duty Holiday gave our industry – and the economy – a real boost and according to the Office for National Statistics, UK average house prices “increased by 7.6% over the year to November 2020”, the highest growth rate since 2016.

We and other agents across the country have reported increased demand, and a strong appetite from both buyers and sellers to get moving.

And keep moving you can, but there are definite rules to be followed.

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The ‘CRASH’ of the Walsall Property Market 2021?

The ‘CRASH’ of the Walsall Property Market 2021?
The ‘Crash’ of the Walsall Property Market 2021?


Keeping a Blog updated is a full-time job and when you have other full-time commitments, something has to give!  So, like a lot of my readers and followers of the Blog, I must prioritise my workload.  Serving my clients is paramount and comes first therefore, you may have noticed I have not been on the blog much recently.  When I do get a chance, I try and give you a bit of a read instead of my usual word count.  In recent weeks I have had several conversations with Walsall Landlords and Walsall Property owners all asking me the same question time and again if, the Walsall property market will crash in 2021…??

..in the last few months, the Walsall (and UK) property market has resisted and defied every economist’s prediction.  With the economy a shadow of its former self, unemployment set to hit 11.9%, the Government on track to borrow nearly half a trillion pounds to pay for Coronavirus support packages etc., all of this has had no effect on Walsall homeowner’s enthusiasm or capability to want to move home.  It highlights the influence of both the emotional impact of lockdown and the enticing appeal of saving thousands of pounds on your Stamp Duty Tax bill.

For the last few months, the Walsall property market has been akin to a surfer, riding an unexpectedly large wave.  The question is, will the surfer crash down (i.e. the property market) into the rocks or will it calmly arrive at the beach unscathed?  Well looking at house prices firstly…

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3 reasons to stop being a Walsall Landlord and 6 that will make you want to become one!


3 reasons to stop being a Walsall Landlord and 6 that will make you want to become one!

The buy-to-let market in Walsall is about to enter a challenging 12 to 24 months. Yet by looking back at the last recession and what is happening now, there are crucial lessons all Walsall landlords can learn to protect themselves, and in fact create opportunities both in the short term and ultimately the longer term. For the purposes of this article, I would like to split these and look at the challenges and then the opportunities.

So, let’s consider the challenges ahead for Walsall landlords …

  1. The impending rise in unemployment stands to hamper tenants’ ability to pay their rent.
  2. The current rents being achieved pushing affordability in some cases out of reach for many tenants.
  3. The possible Capital Gains Tax changes might mean an increase in tax paid by Walsall landlords when they come to sell their Walsall buy-to-let (BTL) properties. 
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My Walsall BTL Deal of the Week, A 2 Bed Terraced in WS3 With Minimum Yields Of 5.14%

A two bed terraced house on Plover street, Walsall, WS3. Listed just over a week ago. A very good investment opportunity if you are a Walsall landlord.

The property is situated on a newbuild site in Bloxwich, which is fantastic for rental properties. Plenty to look at in the listing and is really shown off well. The property is ideal and does not require any changes to it on the face of it, unless of course, you really want to. I do urge a viewing ASAP!

It’s on the market with Webbs Estate Agents 01928 265021 and Arrange a viewing today!

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My Walsall BTL Deal of the Week, A 2 Bed Semi Detached Terraced in WS2 With Minimum Yields Of 5.57%

Yes, that’s right two buy to let opportunities in the same week, nay the same day! A two bed terraced house on Balmoral Way, Walsall, WS2. Listed 7 – 10 days ago. Another very good investment opportunity if you are a Walsall landlord.

The property is situated on a newbuild site in Reedswood, which is fantastic for rental properties. Plenty to look at in the listing and is really shown off well. The property is ideal and does not require any changes to the decor, unless you really, really want to. I do urge a viewing ASAP!

It’s on the market with Bairstow eves call them on 01922 312791 and Arrange a viewing today!

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Unique Walsall Buy To Let Opportunity – Yields 10.5%-10.75%

Jerome Chambers, Walsall - 19 Bed HMO
Jerome Chambers, Walsall – 19 Bed HMO

My Walsall BTL deal of the week is a little different this week. It certainly isn’t for the faint hearted or newbie landlord with the asking price in the region of £1m (£1,000,000.00)! I thought it was worth a mention on the Blog as it’s different to the usual type of stock we see and this type of property doesn’t come along very often.

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Walsall’s ‘Trapped Landlords’

Walsall’s ‘Trapped Landlord’

Since going into lockdown in March, the Government proclaimed a ban on tenant evictions, pledging that no tenant in a private rented home, who had lost their wages due to Covid-19 would be kicked out of their private rented home until the late summer. Fast forward to August and the press were being briefed as late as Wednesday 19th August that this freeze in evictions in England and Wales would cease on the 23rd August. That was until just after 4pm Friday 21st August when Mr Jenrick, the Housing Minister, announced that the eviction ban would be extended for a further four weeks and buy to let landlords must also now give their tenants six months notice to gain possession.

Cue crocodile tears for all the 4,291 Walsall landlords 

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My Walsall BTL Deal of the Week, A 2 Bed Terraced House in WS5 With Yields Of 6.00%

A two bed terraced house on Delamere drive, Walsall, WS5. Listed 3 days ago. Another very good investment opportunity if you are a Walsall landlord,.

The property is situated on a newbuild site on the Yew Tree estate, which is excellent for rentals. There are Plenty of photos for the property showing it off well. The property is ideal and does not require any changes to the decor, garden or driveway. I do urge a viewing ASAP!

It’s on the market with Acorns & Co. (01922 312060).  Arrange a viewing today!

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