All aboard the Walsall Property Market Runaway Train!!

All aboard the Walsall Property Market Runaway Train!!
All aboard the Walsall Property Market Runaway Train!!

Some of my landlords invest for yield, some invest for capital growth (however, it’s very difficult to get both in this market).  Everyone is different; if you are a landlord in Walsall, who invests for capital growth as opposed to yield, it is crucial to look to build in capital growth in a  property by getting a property at a discount or by finding a way to add value.

So, how can you get a discount in this property market, with Walsall property values alight and property being snapped up over night?  Achieving capital growth in Walsall is going to be tough over the coming few years isn’t it?

Well, yes and no.

Looking at the headline figures, of the 1,971 properties available for sale today in Walsall, 678 of them are sold subject to contract, an impressive 34.4% which could indicate a sign of a runaway Walsall property market?  Well, no it isn’t.  Don’t get me wrong it is a lot better than it was a few years ago, but there are still good property deals to be had.

Of the properties that had come on to the market in the last 28 days (337 to be precise), after one month, how many of those 337 had found buyers .. less than one in five (55 to be precise or 16.32%).  Look at the last 56 days (2 months) and of the 612 properties that have come on to the market in Walsall, only 130 have a sale agreed on them (or 21.2%) .. The property market is good but it’s not a runaway train, is it?

Advice Guidance

The main thing is that landlords must take as much advice as possible.  They will need to take a long and serious look at any existing properties or new ones to make sure they can achieve capital growth and that this increases in line with inflation.  I have a great technique for finding properties that have been on the market for sale over three months or more.  You don’t need any special software. All you need to do is ask Rightmove to list your search results (when searching), with the most recent first.  The ones on the last few pages are by definition, the ones that have been on the market longest and potentially ready to do a deal… simple, but  effective.

I have many landlords who send me a web link of any Walsall properties they are interested in and I always give my honest opinion (It might not be what you want to hear, but it will always be what you need to hear!).

So why do I do that?  Well, I run a Letting Agency.  Once you’ve bought the property, I would very much like to manage it for you or help with just finding you a tenant.  If I give my opinion, at no cost or obligation, then we start to build a relationship, you may just start to trust me.   Underpinning all of this is the great customer service, which at the end of the day, is what landlords want from their letting agent.  Or you might ask me to be your agent in the future (but of course there is no obligation to do so).

With that considered, it’s very much in our interests that you buy something that’s sensible and lettable – we don’t want you buying a dud, or something where the figures don’t stack up!

Whether you are a landlord of ours or not, drop by the office for any advice and opinion on where the bargains are in Walsall.  I can guide you on what (or not) to buy.  I don’t charge for my advice, so I can give an impartial opinion, without any conflict of interest to our landlords.

Phone: 01922 311016

Email: info@ashmorelettings.co.uk

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