A two bedroom semi detached bungalow, Maple Drive, Shelfield, Walsall, WS4. The asking price is in the region of £89000 with Lovett & Co estate agents Ltd (01543 526 007). Check it out here:
http://www.zoopla.co.uk/for-sale/details/38795789
A well presented & compact two bedroom semi detached bungalow. The property has been finished to a high level throughout with standout features including Modern kitchen with integrated appliances. Continue reading
Those of you who regularly read my weekly articles in the Walsall Property Blog will know I like to keep abreast of the Walsall Property Market. Something attracted my attention this week about the local property market, something I wanted to share with my many readers.
Over the last month, there appears to have been an anomaly in the local property market, whereby asking prices in the town have dropped, yet property values have increased. The average asking price of a Walsall property, according to Rightmove, fell 1.1% this month yet the average value of a Walsall property rose by 1.2%.
This 2 bed mid terrace house is situated on Green Lane, Bloxwich, Walsall, WS2. The asking price is in the region of £85000 with Goodchilds (01922 312016). Check it out here:
Certainly, from the outside, I wouldn’t say it’s much to look at, “Bog standard terraced”, comes to mind.However, taking a look on the inside is where this one really shines. Continue reading
This 2 bed end terrace house is situated on Beddows Road, Blakenall, Walsall, WS3. On the market with the developer Lovells, Walsall (01922 312834). Priced at £124,950. Full details can be found by following the link below:
http://www.zoopla.co.uk/new-homes/details/photos/36035247
Its no secret that I like new builds for rental especially, one that will give you a decent yield today and bring about some great projected capital growth for the future. I have written some previous articles on the regeneration focused by the local authority and developers alike in the north part of Walsall. Read on to learn why I think this property is a good buy to let investment….
As per my previous article, after receiving numerous calls and emails on the recent upcoming changes to the ‘Stamp Duty’, I feel I have to write about the subject this week…
Our Chancellor of the Exchequer, Mr George Osbourne announced in his autumn statement that from April 2016 investors buying any buy to let property will have to pay an additional 3% stamp duty in addition to the standard rate. This has caused many landlords to ask the question; whether or not purchasing a property in Walsall will still be a viable option?
So for example, It means that the stamp duty bill for a £150,000 buy to let home will rise from the current £3,000 to £7,500 from April next year.
Many property experts are saying that property in Walsall will be worth less because potential landlords will not be willing to pay as much for them, and if house builders or existing homeowners don’t feel they are going to get as much for them, then there is less motivation to build or sell?… and the person we can blame for this is George himself. Back in 2012, he chose to utilise the British housing market to kick start the UK economy with subsidies and initiatives such as Funding for Lending and Help to Buy. However, whilst that helped the Tories get back into power in 2015, some say that this impressive growth in the UK property market has been at the expense of pricing out youngsters wanting to buy their first home.
Others say that this is the straw that is going to break the camels back as, over the next four years, landlords will slowly lose the ability to offset all their mortgage interest against tax on rental income, after changes announced in the Summer Budget. At the moment, landlords can claim tax relief on buy to let mortgage monthly interest repayments at the top level of tax they pay, typically 40%. However, over the next four years this will reduced slowly to the basic rate of tax – currently 20%.
So, that’s it then! Surely this is the end of Buy to Let in Walsall? Well, it’s not great news is it? But, before we all run to hills panicking… let me give you another thought.
Although your Stamp Duty bill will rise, George has left a significant loophole in the new rules. When it comes to selling your investment property, you can offset the purchase costs against any eventual capital gains tax; including stamp duty.
I still firmly believe that total returns from buy to let will continue to outpace other investments, such as the stock market, gilts, bonds and even pensions. Also, the best part about investing in property is that it is bricks and mortar. You can touch it, you can feel it, and it isn’t controlled by some City whiz kid in Canary Wharf… the British understand property and that goes a long way!
Buy to let has enough impetus behind it that prospective landlords will continue to buy even with a larger stamp duty bill. Walsall landlords will need to be savvy with what property they buy to ensure the extra stamp duty costs are mitigated. Buying buy to let property is a long term venture. In the past, it didn’t matter what property you bought in Walsall or at what price – you would always make money. Now with these extra taxes, the adage of ‘any old Walsall house will make money’ has gone out the window. You wouldn’t dream of investing in the stock market without at least looking in the newspapers or taking advice and opinion from others, so why would you take the same advice and opinion about buying a buy to let property in Walsall?
One source of information, opinion and advice is my Walsall Property Blog; sign up for new articles by email now!
Phone: 01922 311016
Email: salekm@ashmorelettings.co.uk
This 3 bed mid terrace house is situated on Dartmouth Close, Bloxwich, Walsall, WS3. On the market with our friends at Alexander James, Burntwood (01543 526002). Priced at £110,000. Full details can be found by following the link below:
http://www.zoopla.co.uk/for-sale/details/photos/37907657
So is this property really a bargain? At a glance there doesn’t seem to be much about the property that jumps out at you but as I delved deeper into the details I found some interesting facts which, in my humble opinion (or IMHO lol), made me arrive at my conclusion. Here are my thoughts on what I found very interesting….
This 3 bed semi detached home is situated on Prince Street, Walsall Wood, Walsall, WS9. On the market with our friends at Goodchilds (01543 526869). Priced at £154,950. Full details can be found by following the link below:
http://www.zoopla.co.uk/for-sale/details/photos/38852127
Those of you that know me, you know how I like my stats!! So as I was trawling through the WS9 postcode stats I noticed how prices for 3 bed semi’s in this postcode area had increased over the past 12 months by a healthy 7.04%. This grabbed my attention as it is one of the postcodes which has helped to maintain the average price increase for properties in Walsall to a decent level against the overall figure.
Looking at some of the properties for sale in this area I came across this one which I thought would be a good potential buy to let for initially, a decent rental yield however, most importantly I feel with a little investment this could provide great capital growth for the future.
This 2 bed apartment is situated at Slaney Court, Bescot, Walsall, WS2. On the market with Redstones (01902 212743). Priced at £59,950. Full details can be found by following the link below:
http://www.zoopla.co.uk/for-sale/details/photos/38780531
Is there any such thing as too good that we can’t help but oblige ourselves? I remember purchasing a buy to let a few years ago when I had no intention to do so. At the time I wasn’t in the market for a property to rent but looking for our family home. A local agent asked me to take a look at something as I would be in the area looking at something else so I went along, reluctantly I hasten to add. This visit resulted in a property I purchased where even today I am achieving a yield of 11.88%!!
This 2 bed mid terrace house is situated on Hereford Street, Leamore, Walsall, WS2. On the market with Bairstow Eves, Walsall (01922 218043). Priced at £70,000. Full details can be found by following the link below:
http://www.zoopla.co.uk/for-sale/details/photos/38693844
For the price you would probably struggle to get a garage in London so it’s no wonder this caught my eye when I saw it listed. A great bargain for any investor especially one who is seeking to get onto the buy to let ladder. A 25% deposit will be in the region of £17,500 (if you paid the asking price), but if you know me, I always negotiate like the BBC’s Apprentices – even in a pound shop!
This is a subject that I have touched on quite often recently, however, I really do feel it’s a big issue so make no apologies for mentioning it again from another point of view – the landlord’s!
I was reading a report the other day produced by the Halifax, about the UK property market and why more and more of the younger generation seem to be renting than buying. I find it fascinating that over the last ten years, the British obsession of buying a house and the fact that if you rented, you were once seen as a second class citizen, has turned on its head to a point where the hopes and dreams to own a nice home will be replaced by the ambition simply to live in one! In the latter half of the 20th Century, you left school, got a job, bought a small house and kept buying and selling property; constantly upgrading until eventually they carried you out in a box.
Walsall Property Blog 
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