Homeowners of Walsall – Is your mortgage paid off?

Head of Juicing @Ashmore Lets Walsall Property Market , , , , , , ,
Walsall Homeowners – Is your mortgage paid off?

The Government’s Annual Housing Survey is 50 years old this year. It has taken a snap shot of the UK’s property market every year since 1969 and in the recently published report for 2018, it wasn’t a surprise that owner occupation is still the most predominant tenure, yet now more people own their home without a mortgage rather than having a mortgage as the number of people buying their first home (obviously with a mortgage) has declined since the Millennium.  The report also shows homeowners (mortgaged and owned outright) are, on average, older than renters and between the homeowners themselves, those who are mortgage free are older than those with a mortgage.

Looking at the most recent data for Walsall, I wanted to see how we compared to the national picture.  Therefore, focusing on the main 4 tenures of owned outright, owned with a mortgage, social housing (i.e. Council Housing and Housing Association) and private rented, this is what I found out…

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My BTL Deal Of The Week, Kenilworth Crescent, Walsall, WS2 With Yields Of 5.76%.

Head of Juicing @Ashmore Lets Walsall Property Market , , , , , , , , , , ,

A two bedroom semi detached house on the popular Reedswood estate in Walsall, WS2. The property will need some changes to the decor, but otherwise is perfect for rental.

There are two double bedrooms, one with fitted wardrobes.  A modern kitchen with integrated oven/ hob, a family bathroom 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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My BTL Deal of the Week 2 Bed Terraced House, Penmire Grove, Walsall, WS4. With Yields Of 4.93%.

Head of Juicing @Ashmore Lets Walsall Buy to Let Property Deals , , , , , , , ,

A 2 bedroom terraced house on Penmire Grove a new build housing estate about half a mile south of Rushall, Walsall, WS4. The property is being marketed by I Love Homes (01922 345905).

The spec looks perfectly on the money. Marketed at offers of over £140k, however it is I think that the price is a bit too optimistic as the last sale price was £131k 7 years ago.

The estate has an exclusive feel about it as it is somewhat off the beaten track. There is double glazing and gas central heating and off-road parking and is within easy reach of the major transport networks making quick commuting to other town centrs close by. There are a large variety of schools all within a mile plus healthcare and shopping amenities locally.

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My BTL Deal of the Week is a 2 Bed Semi Walsall WS2 By Modern Method of Auction Yields 8.25%

Head of Juicing @Ashmore Lets Walsall Buy to Let Property Deals , , , , , , , ,

A 2 bed semi detached house on Monmouth Road, Bentley, Walsall, WS5. On the market with Lovett & Co (01543 526007) and priced at £80k Full details can be found here.

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My BTL Deal of the Week, is a 2 Bed Coach House, Northumberland Way, Walsall, WS2 With Yields Of 6.00%.

Head of Juicing @Ashmore Lets Walsall Buy to Let Property Deals , , , , , , , ,

More good news for Walsall landlords. Just adde to the market this two bedroom coach house is being marketed at offers of £120k by Purple bricks (024 7511 8874). Another perfect spec ready for a quick let. I would say the asking price is about right for this property on the estate.

There is one double bedroom and one single bedroom as well as a family bathroom.  A modern kitchen with integrated white goods, a small low maintenance rear garden and off-road parking along with a garage. 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.

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How does Unemployment Drive the Walsall Property Market?

Head of Juicing @Ashmore Lets 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 2 Bed Terraced Walsall WS2 with Minimum Yields of 5.53%.

Head of Juicing @Ashmore Lets Walsall Buy to Let Property Deals , , , , , , , , ,

A two bedroom terraced house in the Beechdale/ Reedswood area of Walsall, WS2. A perfect spec with décor that fits the bill for a ‘good to go’ let. Please book an appointment asap, this is going to get snapped up!

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