Walsall Property Market

Comment on the Walsall property market

Is Moving Home in Walsall – ‘Mission Impossible’?

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , ,
Is Moving Home in Walsall - ‘Mission Impossible?
Is Moving Home in Walsall – ‘Mission Impossible?

Moving to a larger home is something Walsall people with growing young families aspire to.  Many people in two bedroom homes move to a three-bedroom home and some even make the jump to a four-bed home.  Bigger homes, especially three-bed Walsall homes are much in demand and it can be a costly move.  However, is jumping to a 4 Bed House a step too far?

If you live in Walsall in a two-bedroom property and wish to move to a four-bedroom house in Walsall, you would need to spend on average, an additional £153,066 (or £604.61 pcm in mortgage payments (based on the UK Bank average standard variable rate)).  However, going straight to a four bed from a two-bed home is quite rare as most people jump from a two to three-bedroom home, then later in life, from a three to four-bedroom home.

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What if…the UK Population lived on One Street??!!

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , ,
What if…the UK Population lived on One Street??!!
What if…the UK Population lived on One Street??!!

In my line of work I meet many property entrepreneurs…from budding enthusiasts…to seasoned developers.  Meetings whether face-to-face, by phone, Skpe or email lead on to many interesting conversations some of which, I write about.  I don’t profess to have all the answers but I like reading and learning about property.

This sometimes takes me away from our local Walsall property market, to conversations about our region and the national geographic area as a whole.  My expertise is in the local area where I ‘ply’ my trade to ‘eek’ out a living.  Anyway, I thought I would share something different with you this week, my blog reading friends, which I found really interesting and entertaining at the same time…hope you do too!

If the population of the UK were condensed into just a single street, more than a third of us would live in a semi-detached house worth £207,000.

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Avoiding a ‘Nightmare’ Walsall tenancy!

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , ,
Avoiding a ‘Nightmare_ Walsall tenancy!
Avoiding a ‘Nightmare_ Walsall tenancy!

My neighbour came to see me the other day.  I’m old fashioned like that…Yes, I talk to my neighbours!  He knows I work in Property Management so thought he would pick my brains on a tenancy that has gone ‘awry’ for him.

If there is one thing that all landlords dread, it’s the ‘tenants from hell’!  Whilst the vast majority of tenants cause no problems and will treat your property with respect it is an inherent risk of being a landlord.  However, there are ways to minimise the likelihood of nightmare tenants becoming your tenants!

Now, I’ll help him to get his property back by following the legal process but I also wanted you, my Blog reading friends, to benefit from some tips I shared to ensure you have your risks covered.  By following the 5-step-guide below you just might avoid a nightmare tenancy…

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5 reasons why NOT to use Gumtree to let a Walsall Property

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , ,
5 reasons why NOT to use Gumtree to let a Walsall Property
5 reasons why NOT to use Gumtree to let a Walsall Property

Honestly I could write a book about this. Time and time again through my agency career I would have landlords calling me, desperate for advice after they’ve placed a “lovely” tenant in their property using a free (or low cost) DIY advertising website. The tenant presented themselves as honest, open, and above all very capable of paying the rent.

But the truth is a different matter. They got into the property by deception, and ended up costing these landlords thousands of pounds in damages, unpaid rent, and above all…the stress. These landlords had to cover the mortgage whilst funding the legal battle. One made very difficult because they weren’t aware of all the legislation surrounding lettings. This could prejudice their position in court. Didn’t serve the Prescribed Information? Didn’t register the deposit within 30 days? That means the tenant could actually sue you for 3 times the deposit amount! And there’s more…

It has been said that some 30% of the PRS is made up of accidental landlords (Source: Landlordnews.co.uk). Here lies the problem. As an accidental, or amateur (not a bad thing!) landlord, it is unlikely that they invest the time to make themselves aware of all the legislation surrounding lettings. There is a lot, but as the saying goes “you don’t know what you don’t know,” so most are blissfully unaware – until it goes wrong, and they can do with disastrous consequences!

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Do we have a ‘triple speed’ Walsall property market?

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , ,
Do we have a ‘triple speed' Walsall property market?
Do we have a ‘triple speed’ Walsall property market?

As you might imagine…“What’s happening to the Walsall Property Market?” is a question I am asked often & repeatedly.  Well, would it be a surprise to hear that my own research suggests that there isn’t just one big Walsall property market – but many small micro-property markets?  In the past I have written about the dual speed Walsall property market but now I’m seeing the emergence of three!

For ease, I have named them the…

  1. ‘lower’ Walsall Property Market.
  2. ‘lower to middle’ Walsall Property Market.
  3. ‘middle’ Walsall Property Market.

The ‘lower’ and ‘lower to middle’ sectors of the Walsall property market have been fuelled over the last few years by two sets of buyers.  The first set, making up the clear majority of those buyers, are cash rich landlord investors who are throwing themselves into the Walsall property market to take advantage of enticingly low prices and even lower interest rates. The other set of buyers in the ‘lower’and ‘lower to middle’ Walsall property market are the first-time buyers (FTB), although the FTB market is in a state of unparalleled deadlock as it’s been trampled into near-immobility and incapacity by the new 2014 stricter mortgage affordability regulations and also fewer mortgages with low deposits.

Some of you may be interested to know how I have classified the three sectors…

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5 Home Decor Ideas for Walsall Property you can steal

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , ,
5 Home Decor Ideas for Walsall Property you can steal
5 Home Decor Ideas for Walsall Property you can steal

Last week I was asked to meet a potential client who was looking for some advice.  They said they found my blog interesting and wanted to pick my brain on how best to present their property which they were undecided what they should do with i.e. sell / rent or rent to own.  Now, regardless of which route you decide to take presenting the property in its best light is a minimum.  Afterall, you would never take a battered car to auction and ask for the highest of prices!

Hotel rooms can be a great source of inspiration when it comes to deciding on the perfect decor for your own home.  It’s also about showing off different aspects of possibilities which a buyer/ renter can quiet easily associate with.

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Walsall Property Values Rise by 3.65% in the Last 12 Months!

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , ,
Walsall Property Values Rise by 3.65% in the Last 12 Months
Walsall Property Values Rise by 3.65% in the Last 12 Months

Now the headline may not mean much to some of us but when you compare & contrast the value increase against the average national salary drop of 1%…just goes to show that a positive spread of 4.65% is actually quite healthy!

The most recent set of data from the Land Registry has stated that property values in Walsall and the surrounding area were 3.65% higher than 12 months ago and 25.20% higher than September 2012.

Despite the uncertainty over Brexit as Walsall (and most of the UK’s) property values continue their medium and long-term upward trajectory. As economics is about supply and demand, the story behind the Walsall property market can also be seen from those two sides of the story.

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Would you buy a leasehold house in Walsall?

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , , , ,
Would you buy a leasehold house in Walsall?
Would you buy a leasehold house in Walsall?

Following on from last week’s article and my marathon break from the blog – I’ve had some interesting queries around freehold and leasehold property.  I have written about this subject in the past (click HERE for the previous article) however, the theme I’ve noticed amongst my blog reading friends requests is…’which one is the more beneficial?’

In total there are 23.36 million properties in England and Wales with 64% being of owner occupied tenure and 36% being rented (includes both the private and social landlords).

Over nine out of ten of those English and Welsh owner-occupied properties are a whole house or bungalow. Now, most people would assume they would be freehold – however, of those renting nearly half of rental properties, 44% to be precise, lived in other leasehold apartments and flats.

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Walsall Property Market Update – After the Holiday & Since the General Election…

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , ,
Walsall – After the Holiday & Since the General Election
Walsall – After the Holiday & Since the General Election

Back on the Blog after the longest break I’ve had in two years and a record number of weddings attended!!  With schools opening up this week, I don’t know about you, but I’ll be glad to see the back end of the kids.  Whilst away I have received numerous email requests to discuss various topics of interest by my readers.  I picked the one requested most but I promise to try and get around addressing them all over the coming weeks.

Housing has always been the Cinderella issue at General Elections.  Policing, NHS, Education, Tax and Pensions etc., are always headline grabbing stuff and always seem to go to ‘the ball’. However, housing, which affects all our lives, always seems to get left behind and forgotten.

Nonetheless, the way the politicians act on housing can have a fundamental effect on the wellbeing of the UK plc and the nation as a whole.

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Walsall Property Blog on Holiday!

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , ,
Walsall Property Blog on Holiday
Walsall Property Blog on Holiday

Keeping a blog updated can be an exhausting affair so I’ve decided to take a break especially, since the children have holidays.  The wedding season is also in full swing (I’m attending two weddings next week!!).  I hope to return to the blog towards the end of the month.

 

In the meantime, why not visit these property related websites to hone your property investor acumen?

http://www.landlordlaw.co.uk/ – This is a great resource of useful information, especially on legal issues.

www.periodproperty.co.uk is, as you can imagine, the place to find a thatched, listed or historic home, while www.propertyauctions.com lists dates and reserve prices on upcoming auctions plus tips for those bidding for the first time.

www.firstrungnow.com targets first-time buyers and has information on low cost properties for sale. Young buyers wanting to pool resources can find a co-buyer on www.sharedspaces.co.uk or www.co-buywithme.co.uk.

Whilst I’m away if there is anything you would like me to pick up on/ discuss/ write about upon my return please send me an email or message me via any of my social media sites.  Take care and happy holidays…

Phone: 01922 311016

Email: salekm@ashmorelettings.co.uk