A very nice specced 3 bed semi on West Bromwich Road, Walsall, WS5, marketed by Purple Bricks (0121 721 9601). It doesn’t need anything doing to it from what I can see of it and can be let as is as far as I am concerned. There is gas central heating and double glazing. The bathroom is on the ground floor and does not have a bath, but does have a bidet.
Today’s Buy To Let Deal – 2 Bed Terraced House, Essex Street, Walsall, WS2 – Yields 7.00%
A traditional terraced house on the north side of the town. The spec is very good and should be good to go pending an actual viewing, which I would highly recommend.
Today’s Buy To Let Deal Is A Winner, Winner Chicken Dinner!
Leading on from my last BTL deal, I came across another similar property on Tamebridge on Harebell Close this time. Namely, a two bedroom terraced house, WS5. The full details here.
The marketed value is for offers around £124950k. Now, if the stats on the listing are correct, the last sale of the property on 22/08/2017 was £90k. Therefore, this means in just under 4 months, the property has increased in value by almost £35k! Now that’s some mad capital growth in such a short space of time!
Again, I don’t see this property selling at the asking price. Seems to me the seller bought it at a bargain price and is now trying to capitalise quickly, but as to whether it is worth the asking price, I don’t think it is. The spec is absolutely what you would expect from a property on Tamebridge and there is nothing out of the ordinary nor unique that would set it apart from other similar properties on the estate
How much are Walsall Buy-to-Let Yields a year?
Purchasing your first Walsall buy to let (BTL) property is not the same as buying one to live in. You have to employ a completely different set of tactics, methodology and mind-set.
The main difference is when purchasing your own property, you may well pay a little more to get the home you and your family want, and are less likely to compromise. When buying for your own use, it is only human nature you will want the best, so that quite often it is at the top end of your budget; because as my parents always used to tell me – you get what you pay for in this world!
Yet with a Walsall buy to let property, if your goal is a higher rental return – a higher price doesn’t always equate to higher monthly returns – in fact quite the opposite. Reasonably priced Walsall properties can bring in higher monthly returns. Most landlords use the phrase ‘yield’ instead of monthly return. To calculate the yield on a buy to let property one basically takes the monthly rent, multiplies it by 12 to get the annual rent and then divides it by the value of the property.
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.
Walsall Property Owners and Selling Values..
A local property investor/ landlord contacted me last week with a million questions which I really enjoy. Those of you that know me personally know I love to talk about Walsall property to anyone who would lend me an ear (at this point I wish I had some emoticons to add a couple of smiley faces)! Now, our investor was a shrewd individual it seemed and informed me how he had several properties achieving, what seems like from the outset, some great rental values..which got me thinking..what is actually happening with current property values and rents over the past year? What is the route to getting more ‘bang for your buck’?
The new year started with some positive interest in the Walsall property market. Taking a snap shot of the Walsall property market for the first quarter of 2017, the picture suggests some interesting trends when it comes to the asking prices for property and what prices properties are actually selling for. This is really important to understand as everything connected to these two factors has a ripple effect which ultimately affects your final numbers whether you decide to flip (re-sell) or rent it out.
2 Bed Terraced House in Bloxwich, Walsall, WS3 Yields 6.33%
This is a two bedroomed terraced house situated on Foster street, Walsall, WS3. On the market with Goodchilds (01922 312 016) and priced at £90000. The full property details can be found here.
Based on the photos that are available the spec is very nice and is complemented by a refitted bathroom. I have written in some previous articles on the regeneration in the North Walsall area and why it is a viable proposition for investing in buy to let properties.
All aboard the Walsall Property Market Runaway Train!!
Some of my landlords invest for yield, some invest for capital growth (however, it’s very difficult to get both in this market). Everyone is different; if you are a landlord in Walsall, who invests for capital growth as opposed to yield, it is crucial to look to build in capital growth in a property by getting a property at a discount or by finding a way to add value.
So, how can you get a discount in this property market, with Walsall property values alight and property being snapped up over night? Achieving capital growth in Walsall is going to be tough over the coming few years isn’t it?
Walsall man inherits £110,000. The Bank or Property?
I had an interesting email from someone in Walsall a few weeks ago that I want to share with you – don’t worry I asked his permission to share this with you all. In a nutshell, the gentleman lives in Streetly, he is in his mid 60’s and still working. He has a decent pension, so that when he does retire in a couple of years’ time, it will give him a comfortable life. He had recently inherited £110,000 from an elderly family member. One option he was considering was to put it into a savings account. The best he could find was a 2 year bond with the Post Office which paid 1.9%; meaning he would get £2,090 in interest a year.
One of his other options was to buy a property in Walsall to rent out….
2 Bed End Terrace in Blakenall, Walsall, WS3 – Yields of 5.7%
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:
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….
You must be logged in to post a comment.