Walsall Landlords vs Walsall Savers

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

A couple of articles back, I did a piece on the effect of the 0.25% base rate on the Walsall property market. This time, I want to look at the situation that Walsall ‘savers’ find themselves in.

What, you might ask, has the plight of Walsall savers have to do with the Walsall property market… well, everything in fact!

Read the newspapers, and every financial wizard is stating that with the decision of the Bank of England’s Monetary Policy Committee in early August to cut the Bank of England base rate to an all time low of 0.25%, savers should prepare themselves for interest rates to stay low well into the early 2020’s.

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One Bedroom Apartment, Camborne Road, WS5. With Yields Of 6.75%.

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals , , , , , , , ,

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A one bedroom apartment, Camborne Road, Walsall, WS5. The asking price is in the region of £80000 with Connells (01922 716 026).

Property details here, brochure here and EPC here.

Park Hall is an excellent and very popular location in Walsall. Some consider it to be the “posh” end of the street and therefore prices in general can be higher.

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Which month of the year is ‘best’ to sell your Walsall property?

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , ,
Which month of the year is ‘best’ to sell your Walsall property?
Which month of the year is ‘best’ to sell your Walsall property?

I had a homeowner from Bloxwich email me the other day. She said she had been following my blog for a while and wanted to pick my brain on when I thought is the best time of the year to sell a property in Walsall. Trying to calculate the best time to put your Walsall property on the market can often seem something akin to witchcraft and whilst I would agree that there are particular times of the year that can prove more productive than others, there are plenty of factors that need to be taken into consideration.

Even if you are putting your property on the market, you don’t know how long it will take to find a buyer. At the moment, for the latest set of figures for all 52 Estate Agents that cover the Walsall area (not including the online), the average length of time it takes to find a buyer for any Walsall property is as follows…

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2 Bedroom House, Cannon Street, Walsall, WS2. With Yields Of 6.75%.

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals , , , , , , , ,

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A two bedroom mid terraced house in Walsall, WS2. With the asking price at £80000 and well below average, here’s a nice little bargain.

The downside as you can see from the photos is that it will need some TLC especially in the decor department despite it having double glazing and gas central heating.

There are a wide variety of schools, health services and amenities locally and the transport services are very good with bus routes and major road networks nearby.

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Nearly Half of Walsall Tenants are ‘Middle Class’!!

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , , ,
Nearly half of Walsall tenants are ‘Middle Class’!!
Nearly half of Walsall tenants are ‘Middle Class’!!

With Walsall youngsters not able to buy their own property, my research would suggest the progressively important role the private rented sector has been playing in housing people in need of a roof over their head. This, at a time of increasing affordability problems for first time buyers and growing difficulties faced by social housing providers – local authorities and housing associations – in their ability to secure funding from Westminster and then compete against the likes of the Taylor Wimpey, Barratt and Persimmon Homes of this world to buy highly priced building land.

Renting isn’t like it was in the 1960’s and 70’s, where tenants couldn’t wait to leave their rack-rent landlords, charging sky-high rents for properties with Second World War wood chip wallpaper, no central heating and drafty windows. Since 1997 with the introduction of buy-to-let mortgages and a new breed of Walsall landlord, the private rented sector in Walsall has offered increasingly high quality accommodation for younger Walsall households.

So, whilst I knew in my own mind that the type and ‘class’ of tenant has improved over the last 20 years, I had nothing to back that up… until now.

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Another 2 Bed Terraced House, Dalkeith Street, Walsall, WS2. With Yields Of 6.54%.

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals , , , , , , , ,

 

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Another two bedroom terraced house in the Birchills area of Walsall, WS2 and another just recently added. Four photos on this one though and they do show a very pleasing spec, which does include double glazing and gas central heating.

The selling price is very good at £82500, well below average for the area.

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3 Bedroom Semi, Walsall, WS10. With Yields Of 7.93%.

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals , , , , , , , ,

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A 3 bedroom semi detached house in the Darlaston area of Walsall, currently marketed by Paul Dubberley (0121 659 6109). The good news is the bathroom is the only room that has joined the 21st century. The rest of the property is still unfortunately, “Stayin’ alive”…Just. Thankfully, apart from a new kitchen the other upgrades are mainly cosmetic. There is double glazing and central heating.

So, based on that fact that the property will be upgraded, you could expect a rental of £595.00 pcm.   Therefore, if the property sells at the current asking price of £90k will result in a yield of 7.93%. Personally, I would try and negotiate a reduction based on the required upgrading. Best get in there and arrange a viewing!

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Walsall Landlords & Investors – does your letting agent go THIS far?

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

Walsall Landlords & Investors – does your letting agent go THIS far?
Walsall Landlords & Investors – does your letting agent go THIS far?
A local Walsall landlord recently contacted me after he found my blog (the Walsall Property Blog) and thought to take me up on my offer of advice.  He lives in Parkhall and was thinking of purchasing a property he had seen.  As I’ve always maintained, opinion costs nothing and I am always happy to pass my opinion on any property in the open market.

After he sent me the link to the advertised property I started my research and found some interesting facts.  The property in Walsall was a 3 bed mid-terrace advertised for £129,950.  Just four weeks ago, when it was first advertised, it was priced at £134,950.  So a drop of £5,000 in a month! I smelt a potentially motivated seller. Here’s what makes it more interesting…when I dug deeper…I found the property had been on the market two years ago but for some reason, didn’t sell so was taken off market at that time!!

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2 Bed Terraced House, Dalkeith Street, Walsall, WS2. With Yields Of 7.71%.

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals , , , , , , , ,

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A two bedroom terraced house in the Birchills area of Walsall, WS2. Another recent property added within the last 3 days and also another property lacking photos. Coincidence or the current trend for agents? Anyway, we have double glazing and central heating “Where specified”, That’s secret code for partial central heating. Best thing to do is arrange a viewing, put your mind at rest.

The selling price is an absolute bargain with offers at over £70000.

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2 Bed Terraced House, Park Road, Walsall, WS3. With Yields Of 6.00%.

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals , , , , , , , ,

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A two bedroom terraced house in the Bloxwich area of Walsall, WS3. It has literally just been added (within the last 24 hours) and I’ll forgive the lack of internal photos, for now, because of that. However, the description does not give that much information e.g. we do not know if there is either central heating or double glazing. It is billed as “well presented”, but without a viewing we do not know. So, as I always say, that is what viewings are for.

However, the positives are that the selling price is good for the type and area being £89950 and it is located in an area popular for rented accommodation.

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