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 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 3 bed semi is situated on Fullbrook Road, Delves, Walsall, WS5. On the market with Homepoint (01922 312002). Priced at £110,000. Full details can be found by following the link below:
http://www.zoopla.co.uk/for-sale/details/photos/38617319
Now first a disclaimer. I’m not writing about the Delves area of Walsall on purpose – honest!! It’s just that properties are turning up in this area for sale at reasonable prices. Coupled with other factors and indicators around capital growth and current yields it just makes sense to me.
This 2 bed end terrace house is situated on Walstead Road, Delves, Walsall, WS5. On the market with Connells (01922 716026). Priced at £110,000. Full details can be found by following the link below:
http://www.zoopla.co.uk/for-sale/details/photos/38598323
The south side of Walsall is a great location for rentals as it borders onto Birmingham making it ideal for the professional commuting to and from the City. A well established community with good primary and secondary schools nearby (Delves and Parkhall Junior Schools/ Q3 Academy, Barr Beacon, Joseph Leckie Academy) also adds appeal to the area.
I had an interesting telephone conversation with a local property developer and landlord. Amongst other matters we began to talk about the future of the Walsall property market. He wanted to know my thoughts on the future of the Private Rental Sector (PRS) nationally and especially locally. As usual I had an opinion and it sounded like he wanted to hear it. Below are my thoughts on how I think the next 10 years will play out and why I think the PRS is set to grow even further in Walsall.
Thatcher’s government introduced the right to buy of council homes but that’s not where the British obsession for owning your own home began. Prior to WW2 the aspiration of the people wasn’t to buy but to rent. Looking at the country as a whole, in 1951, 30% of residential properties were owner occupied, then every ten years that rose incrementally to 39% by 1961, 51% by 1971, 58% by 1981, 68% by 2001 but after that, it dropped to 63.4% by 2011 and continues to drop today.
Investing in property is essentially different from investing in stocks and shares or putting money in the Building Society. Whilst these other investments (Building Society Passbooks, Stocks and Shares etc) are passive i.e. once the money has been invested it you leave it alone, with BTL, things are more hands on, in fact it’s almost a business!
One thing the landlords I speak to say is the fact that they like BTL because it is both an investment as well as a business. It is this factor that attracts many of my Walsall landlords – they are making their own decisions rather than entrusting them to others – such as City Whizz Kids in London playing roulette with their pension pots.
Walsall Property Blog 
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