Rents in Walsall Set to Rise to £714 pm in Next 5 Years

Rents in Walsall Set to Rise to £714 pm in Next 5 Years
Rents in Walsall Set to Rise to £714 pm in Next 5 Years

A good 18 months has passed since annual rental price inflation in Walsall peaked at 10.7% (June 2016).  Since then we have seen increasingly more humble rent increases to 7.3% in November 2017.  In fact, in certain parts of the Walsall rental market over the autumn, the rental market saw some slight falls in rents.  So, could this be the earliest indication that the trend of high rent increases seen over the last few years, may now be starting to buck that trend?

Well, possibly in the short term, but in the coming few years, it is my opinion Walsall rents will regain their upward trend and continue to increase as demand for Walsall rental property will outstrip supply, and this is why…

The way I see it is this…the counterbalance to that improved rental growth would be to meaningfully increase rental stock (i.e. the number of rental properties in Walsall).  However, because of the Government’s new taxes on landlords being introduced between 2017 and 2021, that means buy-to-let has (and will) be less attractive in the short term for certain types of landlords resulting in fewer new properties being purchased to rent out.

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WALSALL LANDLORDS – THREE THINGS I’ll be doing over Christmas 2017!!

WALSALL LANDLORDS - THREE THINGS I’LL BE DOING OVER CHRISTMAS
WALSALL LANDLORDS – THREE THINGS I’LL BE DOING OVER CHRISTMAS 2017

My Blog reading friends and existing clients will know that at some point over the Christmas break I get fed up of all the eating, drinking and partying.  “Bah! Humbug!” I hear you say…but in reality I think it’s simply that as a busy business owner, my mind and body can’t take the change in pace from mad and hectic to practically a vegetative like state.

So it’s usually around this time of the year, when I hit that point and I need to re-engage my brain, this is what I plan to do…

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Walsall Town Centre, Tameway Plaza – ‘No Mortgage’ Investment Opportunity

Tameway Plaza - Walsall Town Centre
Tameway Plaza – Walsall Town Centre

If you follow the Walsall Property Market News like I do (not just the residential) then, you will be well versed with past, present and planned future developments.  Amongst the proposed £90m transformation of the town centre recently it has been announced that more than 100 jobs will be created by developing a piece of derelict land back into commercial use with a further £6.9m investment.

In recent years we have had the new 24hr Tesco, the Primark development (which was extremely busy on Saturday), The Quarter has just been finished with Poundland and B&M taking up occupation anytime now and there are plans to revamp The Saddlers Centre!  So, with all this happening around the commercial side of property “what about residential” I hear you ask…?

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Walsall Property – Jargon Busting Terminology (PART 1)

Walsall Property - Jargon Busting Terminology (PART 1)
Walsall Property – Jargon Busting Terminology (PART 1)

Something different this week for my blog reading friends…in recent months I have been asked on several occasions to explain certain terminology that has cropped up during Walsall property transactions or just in conversation.  For ease of reference I have gone through the list in alphabetical order; the overwhelming array of acronyms and specialist terminology in simple layperson terms.  To save the article from being endless pages I have split this into two parts with part 2 releasing soon – so watch this space!  If there is anything I may have missed please feel free to comment or get in touch.

The meaning behind the lingo…

A

Abandonment – Abandonment is when a tenant leaves the property (usually without notifying the landlord or agent) before the tenancy has ended.  Very often this occurs when the tenant owes rent and the tenant may or may not leave possessions in the property.  Although the tenant is in the wrong for many reasons, they still have a legal tenancy and can return and demand to take up residence at any time, despite not paying rent.  Taking over an abandoned property is fraught with difficulties for the landlord and specialist advice should be sought.

Advance – A mortgage loan – an additional loan is referred to as a further advance.

Adverse Credit – Used to apply to a borrower or application that has past problems with bad credit, for instance frequent late payment, breached arrangement, bankruptcy or County Court Judgement.

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Today’s Buy To Let Deal Yields 5.41% 2 Bedroom Semi Detached House, Bank Street, Cannock, WS12.

A two bedroom semi detached house, Bank Street, Cannock, WS12. The asking price is for £127500 and is marketed by Purple Bricks (01926 267659).

An excellent spec throughout with modern kitchen, bathroom, gas central heating and double glazing, however the rear garden will need some attention. Parking facilities are not listed in the description.

The location is ideal for commuting to Cannock town centre. Many other amenities and services are all within a short distance away.

I appraise the pcm at a minimum of £575.00 and if the property sells at the current asking price, this makes a yield of 5.41%.

If you would like an instant online appraisal as to the rental value of your property, please click here.

If you are thinking of getting into the property rental market and don’t know where to start, speak to us for impartial advice and guidance to get the best return on your investment.

For more information about other potential investment properties that we could introduce you to, or to ask about our thoughts on your own investment choices, call us now on 01922 311016, you can always email me on salekm@ashmorelettings.co.uk.

Don’t forget to visit the links below to view back dated deals and Walsall Property News

Blog: www.walsallpropertyblog.com

Facebook: https://www.facebook.com/AshmoreLettings

Twitter: https://twitter.com/AshmoreLettings

Would you buy a leasehold house in Walsall?

Would you buy a leasehold house in Walsall?
Would you buy a leasehold house in Walsall?

Following on from last week’s article and my marathon break from the blog – I’ve had some interesting queries around freehold and leasehold property.  I have written about this subject in the past (click HERE for the previous article) however, the theme I’ve noticed amongst my blog reading friends requests is…’which one is the more beneficial?’

In total there are 23.36 million properties in England and Wales with 64% being of owner occupied tenure and 36% being rented (includes both the private and social landlords).

Over nine out of ten of those English and Welsh owner-occupied properties are a whole house or bungalow. Now, most people would assume they would be freehold – however, of those renting nearly half of rental properties, 44% to be precise, lived in other leasehold apartments and flats.

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Walsall Property Blog on Holiday!

Walsall Property Blog on Holiday
Walsall Property Blog on Holiday

Keeping a blog updated can be an exhausting affair so I’ve decided to take a break especially, since the children have holidays.  The wedding season is also in full swing (I’m attending two weddings next week!!).  I hope to return to the blog towards the end of the month.

 

In the meantime, why not visit these property related websites to hone your property investor acumen?

http://www.landlordlaw.co.uk/ – This is a great resource of useful information, especially on legal issues.

www.periodproperty.co.uk is, as you can imagine, the place to find a thatched, listed or historic home, while www.propertyauctions.com lists dates and reserve prices on upcoming auctions plus tips for those bidding for the first time.

www.firstrungnow.com targets first-time buyers and has information on low cost properties for sale. Young buyers wanting to pool resources can find a co-buyer on www.sharedspaces.co.uk or www.co-buywithme.co.uk.

Whilst I’m away if there is anything you would like me to pick up on/ discuss/ write about upon my return please send me an email or message me via any of my social media sites.  Take care and happy holidays…

Phone: 01922 311016

Email: salekm@ashmorelettings.co.uk