£90,348 spent in Rent by Walsall Millennials Age 35

Walsall Rent Inreases Outstrips Inflation Since 2005
Walsall Rent Inreases Outstrips Inflation Since 2005

Millennials were born between the mid 1980’s and late 1990’s making them between the age of around 22 to late 30’s. They are the imaginative, artistic youngsters who grew up with the newest tech and computers and who are huge enthusiasts of music festivals, gourmet pizzas, emoji’s, selfies and old school nostalgia AKA…generation rent.

Countless Millennials have discovered that renting is a good choice for their shelter and accommodation needs without the hassle that comes from buying a home. Nonetheless, that is not the only reason they don’t buy property. When they should be concentrating on their profession, putting down roots and starting a family, Millennials are still going through the pressures and constraints on their finances of student loan liabilities whilst, at the same time, finding it hard-hitting to pay rent.

The hot topic at the moment is the cost of renting, as both our main political parties have seen mileage in wooing these Millennial Generation Renters. The average rent in Walsall is currently £618 per month making this a big-ticket item on the monthly budget. I was inquisitive to find out exactly how much Walsall Millennials will spend on rent by the time they reach their mid 30’s. The average age people leave home in the UK is 22; so looking at a Walsall 22-year-old (or Millennial) who left home in 2005 then between 2005 and today that Walsall Millennial will have shelled out £90,348 in rent.

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My BTL Deal Of The Day, 3 Bed Semi House, Larchwood Road, Walsall, WS5 With Yields Of 5.57%.

A very nicely presented three bedroom semi detached house on Larchwood Road, Tamebridge, Walsall, WS5. The asking price is £140k with Yopa (01322 584475), you can find the full property details here.

Located in the highly popular and very desirable Tamebridge estate, speaks volumes as to the location and therefore the potential for long term letting.

There are two double bedrooms and a single bedroom. There is a conservatory extension to the rear.

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“Will the Walsall Property Market Crash…?”

Will the Walsall Property Market Crash
Will the Walsall Property Market Crash…?

A question posed by a local portfolio landlord of mine last week.  Who would be the gainers and losers…?

Those Walsall people wanting property values to drop would be those 30 or 40 something’s, sitting on a sizeable amount of equity and hoping to trade up (because the percentage drop of your current ‘cheaper’ property will be much less than the same percentage drop of the more expensive property– and trading up is all about the difference). If you have children planning to buy their first home or you are a 20 something wanting to buy your first home – you want them to drop.  Also, Walsall landlords looking to add to their portfolio will want to bag a bargain (or two) and they would love a drop!

Yet, if you have recently bought a Walsall property with a gigantic mortgage, you’ll want property values to rise. If you are retired and are preparing to downsize, you will also want Walsall property values to rise (because you will have more cash left over after the move).  Also, if you, a landlord looking to sell your portfolio or a Walsall home owner, who has remortgaged to raise money for other projects (meaning you have very little equity), you will want property values to rise to enable you to put a bigger deposit down on the next purchase.

So, before I discuss my thoughts on the future, it’s important to look at the past…

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Today’s BTL Deal 3 Bed Semi, New Forest Road, Walsall, WS3 Yields Of 5.21%.

A three bedroom semi detached house on a prestigious and popular estate in the Coalpool area in Walsall. Since major redevelopment in the area, the area’s profile has now been raised substantially making it a popular choice for rental.

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Today’s Buy To Let Deal, 3 Bed Semi Detached House, Chestnut Road, Walsall, WS3. With Yields Of 5.03%.

A very nice 3 bed semi detached house in Harden, Walsall, WS3. Currently marketed by House Network (01245 409116). It has a very nice spec with gas central heating and double glazing.

It is certainly a family home with spacious gardens and being fairly low maintenance. Parking is off-road. The master bedroom has an en-suite shower room and there is a separate dining room.

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Today’s Buy To Let Deal, 2 Bed Town House, Wolfsbane Drive, Walsall, WS5 With Yields Of 5.28%.

A two bedroom town house on Wolfsbane Drive, Tamebridge, Walsall, WS5. The asking price is £125k with Purple Bricks (0121 721 9601).  The Full property details can be found here.

Located in the highly popular and very desirable Tamebridge estate, speaks volumes as to the location and therefore the potential for long term letting.

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The ‘Hodgepodge’ of Walsall Property Mini Markets

The ‘Hodgepodge_ of Walsall Property Mini Markets
The ‘Hodgepodge_ of Walsall Property Mini Markets

A Royal Wedding, Russia, Facebook, Brexit, Trump, House prices up, House prices down … the Press is full of column inches on Brit’s favourite subjects of politics, scandal, weather and not forgetting (and I appreciate the irony of this!) the property market. As an agent belonging to a national group of letting and estate agents, talking to my fellow property professionals from around the UK, the one thing that is immediately apparent is the UK does not have one property market. It is a hodgepodge patchwork (almost like a fly’s eye) of lots of small property markets all performing in different ways.

… And that made me think … is there just one Walsall Property Market or many?

I like to keep an eye on the property market in Walsall on a daily basis because it enables me to give the best advice and opinion on what (or not) to buy in Walsall, be that a buy-to-let property for a Walsall landlord or an owner occupier house for a home owner.  So, I thought, how could I scientifically split the Walsall housing market into segments, so I could see which part of the market was performing the best and/ or the worst.

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