A two bedroom terraced house, Sorell Drive, Tamebridge, Walsall, WS5. Ideal for a buy to let (BTL) investment opportunity. Marketed Bairstow eves (01926 312791) and at a very reasonable £110k asking price. You can find the full property details here.
Situated in the highly popular Tamebridge estate, which is very conducive for long term letting.
I was recently reading a report by the Home website which suggested that landlords are selling en-masse their buy-to-let investments due to increasing burdens on them in the buy-to-let market. Their findings suggest the number of new properties that came onto the market nationally (for sale) jumped by 11% across the UK as a result.
Those increasing burdens include new tax rules coming in over the next 3 to 4 years and the announcement that all self-managing landlords (i.e. landlords that don’t use a letting agent to look after their buy-to-let property) will soon need to register with a compulsory redress scheme to resolve tenant arguments and disputes; as Westminster wants to heighten standards in the Private Rented Sector.
Interestingly, a few weeks ago I was chatting with a self-managed landlord from Bloxwich, when I was out who didn’t realise the other recent legislations that have hit the Private Rented sector, including the ‘Right to Rent’ regulations which came in to operation last year. Landlords have to certify their tenants have the legal right to live in the UK. This includes checking and taking copies of their tenant’s passport or visa before the tenancy is signed. Of course, if you use a letting agent to manage your property, they will usually sort this for you (as they will with the redress scheme when that is implemented).
A three bedroom end terraced house, Holford Avenue, Bescot, Walsall, WS2. This property is presented very nicely and with a very acceptable spec. It can be let as it currently stands though I would take a closer look at the rear garden, it could do with some sprucing up. The property type and high standard of spec makes it ideal for working professionals.This is further strengthened by its location about half a mile from M6 junction 9, ideal for commuting. For the frustrated footballer in all of us, Bescot stadium is but a short 10 minute stroll away. The return journey could be a little longer if the Saddlers lose that Saturday. For your weekly shopping supplies look no further than the large Morrisons superstore just around the corner. It has a petrol forecourt as well…Handy!
A two bedroom end terraced house on the popular Poppyfields estate in Walsall. The area is popular for investors and renters alike. The property benefits from double glazing and gas central heating. Parking is off-road. It would be better appreciated by a viewing. Some improvements/ changes will be needed including the rear garden and bathroom. The location is within easy reach of all the major road networks, services and other amenities lending easy access to Walsall and West Bromwich town centres. For the football aficionados amongst us, Bescot Stadium is just a few mins walk away.
The current asking price is £125000 and based on a rental of £550.00 pcm will return a yield of 5.28%.
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Following the publication of a recent blog article about ‘Generation Rent’ a local homeowner of Walsall contacted me. He said that he felt that the plight of our Walsall youngsters (first time buyers), was that like of a novice football player trying to bend it like Beckham! You’re in a minus game playing Beckham at his own game right? Play him a 100 times and you’re bound to lose 100 times!! There is no doubt that buy to let landlords have played a major role in driving up property values in Walsall (and the UK) and from that made housing a lot less affordable for the 20-30 somethings of Walsall.
Let us look at how affordable Walsall is. The best way to measure affordability is to measure Walsall property prices against Walsall average salary (the higher the ratio, the less affordable properties are). Looking at the table below, for example in 2014, the average value of a Walsall property was 5.95 times higher than the average annual wage in Walsall.
Investing in Walsall buy to let property is a little different to investing in the stock market and arguably more rewarding than the latter. Or you could of course pledge your hard-earned cash in the Building Society. When you invest your money in the Building Society, this is considered by many as the safe option but the returns you can achieve are, in my opinion, miserably low (the best 2-year bond rate from Nationwide is a whopping 0.75% a year!). The Stock Market can give good returns, but unless you are a city whizz kid or on the phone every day to your Stockbroker it is difficult to make positive returns. The masses usually invest in stock market funds, making the investment quite hands off and one always has the feeling of not being in control.
However, with buy to let, things can be more hands on. One of the things many landlords like is the physical nature of property – the fact that you can touch the bricks and mortar. It is exactly this which attracts many of Walsall’s landlords – they feel they are making their own decisions rather than assigning them to city whizz kids in Canary Wharf playing Russian roulette with their savings.
It was late May 2016, The Right Hon. Member for Tatton, Mr George Osborne, published an official HM Treasury analysis stating UK house prices would be lower by at least 10% (and up to 18%) by the middle of 2018 compared with what is expected if the UK remained in the European Union. So, eight months on from the Referendum, are we beginning to show signs of that prophecy?
The simple answer is yes and no.
Good barometers of the housing market are the share prices of the big UK builders. Much was made of Barratt’s share price dropping by 42.5% in the two weeks after Brexit, along with Taylor Wimpey’s equally eye watering drop in the same two weeks by 37.9%. Looking at the most recent set of data from the Land Registry, property values in Walsall are 5.75% up month on month (however, the month before that, they had seen decrease of 0.1%) – so is this the time to panic and shout?
Doom and Gloom then? Well, let me consider the other side of the coin.