How does Unemployment Drive the Walsall Property Market?

Unemployment and the Walsall Property Market
Unemployment and the Walsall Property Market

If you have been reading my articles on the Walsall property market, you will see that in the three years since the referendum we have proved beyond doubt that ‘Brexit’ has had no effect on the Walsall property market (or the UK as a whole).

So one might ask, what does affect the property market locally? Well many things on the demand side include wages, job security, interest rates, availability of mortgages, confidence in the economy, inflation, speculative demand … the list goes on. Yet as my blog reading friends will note, I like to delve deeper into the numbers which has led me to find an interesting correlation between unemployment and the number of properties sold (i.e. transactions).

Why transaction levels and not house prices? Well just looking at Walsall house prices as a leading indicator has flaws. Many property market commentators and economists believe transaction numbers (the number of properties sold) give a more accurate and truthful indicator of the health of the property market than just house values alone. The reason is twofold. First most people when they sell also buy, so if property values have dropped by 10% or risen by 10% on the one you are selling, it would have done the same on the one you are buying – meaning to judge the health of a property market is very one dimensional.  Secondly…

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My BTL Deal Of The Week, Nottingham New Road, Walsall, WS2 With Yields Of 6.50%.

A two bedroom semi detached house on the popular Reedswood estate in Walsall, WS2.

This is just a quick one this week following on from my involvment with the letting of a similar property on the same estate this week.

Sadly, there are no other photos on the listing, but suffice to say it has two double bedrooms, a modern kitchen, a family bathroom with shower, a 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.

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5 Easy-Peasy ways your Walsall home can attract Tenants & Buyers with kerb appeal

5 Easy-Peasy ways your Walsall home can attract Tenants & Buyers with kerb appeal
5 Easy-Peasy ways your Walsall home can attract Tenants & Buyers with kerb appeal

Too often I am going to meet landlords and vendors in Walsall who have a perceived idea of how to present their home when looking for a tenant or a buyer.  I have always said that you want to present your home in a way which will take the prospect’s mind away from thoughts of excess expenditure and expensive necessary changes they may have to fork from their pocket in addition to paying that all important price tag.  The moment you have prospects thinking of where to place that all important sofa or ‘Will my bed fit in this room?’, is where you have created a chance of converting the prospect into a potential tenant or buyer.  Now that’s on the inside but how important is the outside and what can you do to make your Walsall home more desirable?

You want your home to stand out from the crowd.  You want tenants or buyers flocking to see what it has to offer.  First impressions matter, and how your home looks from the outside can impact how buyers view the inside.  Wow them from the kerb and they will enter with hope and anticipation. Disappoint them and it will take twice as much effort for your property to win them over.

Getting the right kerb appeal doesn’t take rocket science; here are 5 easy-peasy ways to attract Walsall tenants & buyers.

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Cash or Mortgage When Buying Walsall Property?

Cash or Mortgage When Buying Walsall Property
Cash or Mortgage When Buying Walsall Property?

In recent weeks I have had the pleasure of meeting up with a few investors who were looking to enter the Walsall Property Market.  There are so many approaches to investing in property and many ‘Guru’ type figures out there, all willing and able to help…all for a fee of course (some of the fees are eye watering)!!  Having attended the course, some of the investors found my Blog and decided to take me up on the offer of a meeting over a cuppa.  The common theme/ question that came up repeatedly was… “Do I buy with or without a mortgage”!?

For most Walsall people, a mortgage is the only way to buy a property. However, for some, especially Walsall homeowners who have paid off their mortgage or Walsall buy to let landlords, many have the choice to pay exclusively with cash. So, the real question is, should you use all your cash, or could a mortgage be a more suitable option?

Well, looking at the numbers locally…

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My BTL Deal Of The Week, Perch Road, Walsall, WS2 With Yields Of 5.78%.

A two bedroom semi detached house on the popular Reedswood estate in Walsall, WS2. The property has the perfect spec for rental.

There are two double bedrooms, one with fitted wardrobes.  A modern kitchen with integrated oven/ hob, a family bathyroom with shower, 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.

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The Best Type of Walsall Property For Buy To Let is…

The Best Type of Walsall Property For Buy To Let is…
The Best Type of Walsall Property For Buy To Let is…

In today’s Walsall property market, the Walsall homeowners and Walsall landlords I talk to are always asking me which attributes and features are likely to make their property comparatively more attractive and which ones may detract from the price. Over time buyers’ and tenants’ wants and needs have changed.

The conformist way of categorising property in Britain is to look at the number of bedrooms rather than its size in square metres (square feet for those of you over 50!). My intuition tells me that homeowners and tenants are happy to pay for more space. It’s a little obvious, the more bedrooms a house or apartment has, the bigger the property is likely to be. Also, it’s not only the physical additional bedrooms, but those properties with additional bedrooms tend to have larger (and more) reception (living) rooms. However, if you think about it, this isn’t so surprising given that properties with more bedrooms would typically accommodate more people and therefore require larger reception rooms.

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Brexit – What’s the ‘Deal’ with Walsall House Prices?

Brexit – What’s the ‘Deal’ with Walsall House Prices?
Brexit – What’s the ‘Deal’ with Walsall House Prices?

On a daily basis in Walsall I am talking to landlords and homeowners from all walks of life. Some are serial investors whilst others are accidental landlords or holding a small portfolio. I have always shared my thoughts on the local property market in Walsall and Brexit has come up a few times. Here are some links to past articles I have written on the topic:

25/04/2016  EU vote!! Which way should Walsall landlords vote?

24/06/2016  EU Referendum – 67.9% of Walsall Voters Vote With Their Feet…

20/09/2016  Walsall’s Generation Gap & Brexit – Did the Older Generation Let Down the Young?

09/05/2017  The effects of a ‘Hard Brexit’ on the Walsall Property Market…

I have been holding off giving my thoughts, as I did not want to add fuel to the stories being banded around in the national press. However, it’s obviously a topic that you as Walsall buy to let landlords and Walsall homeowners are interested in…

We may or may not as the case may be, have a potential deal in the offering, there is still an amount of ambiguity about the exit plan so I am going to try and give you what I consider a fair and impartial piece on what would happen in Walsall if a hard Brexit takes place in March 2019.

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