A 3 bedroom semi detached house in the north Walsall area, currently marketed by Acorns & Co (01922 312060). The property could be rented as is, but I would recommend making changes in certain areas eg parts of the decor and carpets.
Author: Head of Juicing @Ashmore Lettings & Sales Ltd
Walsall Unemployment Rates Drop to 7.3%! What Does This Mean for Walsall’s Property Owners?
It was late May 2016, The Right Hon. Member for Tatton, Mr George Osborne, published an official HM Treasury analysis stating UK house prices would be lower by at least 10% (and up to 18%) by the middle of 2018 compared with what is expected if the UK remained in the European Union. So, eight months on from the Referendum, are we beginning to show signs of that prophecy?
The simple answer is yes and no.
Good barometers of the housing market are the share prices of the big UK builders. Much was made of Barratt’s share price dropping by 42.5% in the two weeks after Brexit, along with Taylor Wimpey’s equally eye watering drop in the same two weeks by 37.9%. Looking at the most recent set of data from the Land Registry, property values in Walsall are 5.75% up month on month (however, the month before that, they had seen decrease of 0.1%) – so is this the time to panic and shout?
Doom and Gloom then? Well, let me consider the other side of the coin.
Today’s Buy To Let Deal, Yorkshire Grove, Walsall, WS2 With Yields Of 5.25%.
A two bedroom semi detached house on the popular Beechdale estate in Walsall. The property is s very nice spec and good to go, that’s right, drive it straight off the forecourt.
There are two double bedrooms, one with en-suite as well as a family bathroom. A modern kitchen with integrated white goods, a fair sized rear garden and off-road parking. It would be better appreciated by a viewing. The location is within easy reach of all the major road networks, services and other amenities lending easy access to Walsall town centre plus Reedswood Retail Park is just around the corner.
Today’s buy To Let Deal, 2 bed Semi, Bentley Drive, Walsall, WS2. With Yields Of 5.48%.
A 2 bedroom semi detached house on Bentley Drive, Walsall, WS2. The property is being marketed by Webbs estate agents (01922 312727). An excellent spec, which doesn’t necessarily need any upgrading, unless you really want to, however, the rear garden is quite large and could do with some TLC.
Is the Walsall Buy to Let Market Over-Saturated?
If I were a buy to let landlord in Walsall today, I might feel a little bruised by the assault made on my wallet after being (and continuing to be) ransacked over the last 12 months by HM Treasury’s tax changes on buy to let.
To add insult to injury, Brexit has caused a tempering of the Walsall property market with property prices not increasing by the levels we have seen in the last few years. There is even a possibility we might even see a very slight drop in property prices this year and, if Walsall property prices do drop, the downside to that is that first time buyers could be attracted back into the Walsall property market; meaning less demand for renting ( ie rents will go down).
Before we all run for the hills, all these things could be serendipitous to every Walsall landlord, almost a blessing in disguise.
Today’s Buy To Let Deal. Ready Made Tenant! 2 Bed, West Street, Walsall, WS3. With Yields Of 6.75%.
In my previous buy to let deal of the day, I asked what could be more ready to go than a newbuild..? Well, this one can! Why? It’s got a ready made tenant, that’s why.
A traditional two bedroom terraced house in the Leamore area of Walsall. It’s a pretty good spec actually and it doesn’t need anything doing to it. But, if I was buying it with a sitting tenant, I would sort the back garden out just to show them what a cool and groovy landlord I was. Why not? The money I’m saving by not having to have a void period whilst trying to find a tenant, paying agent fees when I do, updating the decor etc to provide a nicer looking garden for my tenant, it’s a no brainer.
Walsall Properties…”How Much to Buy Them All?!”
My 14 year-old has started his GCSE’s this year. He wants to be a Chartered Surveyor as he loves buildings and anything to do with cars. He posed the fascinating question last week which got me thinking…
So this weekend, I sat down and calculated what the total value of all the properties in Walsall are worth … and just for fun, worked out how much they have gone up in value since he was born back in the summer of 2002! I used information from the latest census, land registry and the ONS.
So, here you are…
In the last 14 years, since the autumn of 2002, the total value of Walsall property has increased by 95% or £8.3 billion to a total of £16.1 billion. Interesting, when you consider the FTSE100 has risen by 68.9% and inflation (i.e. the UK Retail Price Index) rose by 38.7% during the same 14 years.
Buy To Let Deal Of The Day 2 Bedroom Semi, Waters Keep, Walsall, WS3. With Yields Of 6.13%.
How’s this for a ship shape and ready to go deal? You don’t get more ready to go than a newbuild, do you? This 2 bedroom semi detached house on Waters Keep in Walsall, WS3 is part of a newbuild development in the north Walsall area, which continues to grow in popularity and re-development. The property is being marketed by Reed Rains (01543 439087) at £116500.
Today’s Buy To Let Deal, Harebell Close, Walsall, WS5 With Yields Of 5.28%.
A two bedroom terraced house, Harebell Close, Tamebridge, Walsall, WS5. The asking price is £124950 with Henley Charles (0121 659 5777). Full property details are here.
Nestled in the highly popular and very desirable Tamebridge estate, speaks volumes as to the location and therefore the potential for long term letting.
Walsall’s ‘Baby Boomers’ Vs Walsall’s ‘Millennials’
Walsall’s ‘Baby Boomers’ Vs Walsall’s ‘Millennials’I was talking to my financial advisor friend the other day. He is an Independent Financial Advisor (IFA) who does both residential and commercial mortgages. Recently we completed a property portfolio review for a Walsall Landlord. We got talking about the current mortgage market and why Walsall youngsters were choosing to rent. It was fascinating listening to a different point of view which I thought my blog reading friends on here may be interested in.
Some property experts are directing the current crisis towards the 55 to 70-year-old Walsall citizens.
Also known as the ‘Baby Boomers Generation’, these Walsall people were born after the end of the Second World War when the country saw a massive rise in births as they slowly recovered from the economic hardships experienced during wartime.
Throughout the 1970’s and 1980’s, they experienced (whilst in their 20’s, 30’s and 40’s) an unparalleled level of economic growth and prosperity throughout their working lifetime on the back of improved education, government subsidies, escalating property prices and technological developments, they have emerged as a successful and prosperous generation.
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