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%.
Currently on offer with Bairstow eves (01902 312791) click here for the full property details or give them a call.
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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.
I was talking to my financial advisor friend the other day. He is an Independent Financial Advisor (IFA) who does both residential and commercial mortgages. Recently we completed a property portfolio review for a Walsall Landlord. We got talking about the current mortgage market and why Walsall youngsters were choosing to rent. It was fascinating listening to a different point of view which I thought my blog reading friends on here may be interested in.
Some property experts are directing the current crisis towards the 55 to 70-year-old Walsall citizens.
Also known as the ‘Baby Boomers Generation’, these Walsall people were born after the end of the Second World War when the country saw a massive rise in births as they slowly recovered from the economic hardships experienced during wartime.
Throughout the 1970’s and 1980’s, they experienced (whilst in their 20’s, 30’s and 40’s) an unparalleled level of economic growth and prosperity throughout their working lifetime on the back of improved education, government subsidies, escalating property prices and technological developments, they have emerged as a successful and prosperous generation.
Recently I read a really interesting article by Christopher Watkin, renowned property guru, which really made me think about whether landlords and vendors actually know who they are instructing when putting their property for let or for sale and the implications of being unaware of whether one of the large corporate owns your local agency!
I have noted my opinions and thoughts at the bottom of the article..