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.
A Royal Wedding, Russia, Facebook, Brexit, Trump, House prices up, House prices down … the Press is full of column inches on Brit’s favourite subjects of politics, scandal, weather and not forgetting (and I appreciate the irony of this!) the property market. As an agent belonging to a national group of letting and estate agents, talking to my fellow property professionals from around the UK, the one thing that is immediately apparent is the UK does not have one property market. It is a hodgepodge patchwork (almost like a fly’s eye) of lots of small property markets all performing in different ways.
… And that made me think … is there just one Walsall Property Market or many?
I like to keep an eye on the property market in Walsall on a daily basis because it enables me to give the best advice and opinion on what (or not) to buy in Walsall, be that a buy-to-let property for a Walsall landlord or an owner occupier house for a home owner. So, I thought, how could I scientifically split the Walsall housing market into segments, so I could see which part of the market was performing the best and/ or the worst.
A 3 bed terraced house on Birchfield Way, Yew Tree, Walsall, WS5. On the market with Bairstoweves (01922 312791) and priced at £130k. Full details can be found here.
A two bedroom end terraced house on the popular Reedswood estate in Walsall, WS2. The property is a modern newbuild only being only 10 years old. The spec is very nice and could be let as is.
There are two double bedrooms, a modern bathroom and a modern kitchen with integrated oven/hob. There is also a small low maintenance rear garden and off-road parking. It would be better appreciated by a viewing. The location is within easy reach of all the major road networks, services and other amenities lending easy access to Walsall town centre plus Reedswood Retail Park is just around the corner.
I think I’ve created a new word! Yes, I said ‘rentirement’, not retirement. Let me define it: rentirement , Renters who are currently in their 50’s and 60’s who don’t own their own home but rent their home, privately, from a buy to let landlord.
In Walsall, there are just under 1416 rentirees and this number is growing steadily! How…?! Read on to find out…
The truth is that these Walsall people are prospectively soon to retire with little more than their state pension of £155.95 per week, probably with a small private pension of a couple of hundred pounds a month, meaning the average Walsall rentiree can expect to bring in about £200 per week once they retire at 67.
The ‘Rentirement’ Time Bomb…
At a recent family gathering my sister and I were talking about various sibling stuff when the conversation shifted to how she ended up at the property she resides at now. It became very interesting when she brought out a folder with a plethora of information and history left by the previous owners.
Walsall property owners may be interested in knowing the property built in 1947 was purchased for £1,000 with a mortgage of £700!!
The monthly mortgage payments were £4, 4S which I have no idea how much that translates to in today’s money…however…the thought of buying property for £1k and paying a £4-5 mortgage nowadays is one of dreams.
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.
