walsall property market

Is it possible that inflation could benefit landlords in Walsall?

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , ,
Is it possible that inflation could benefit landlords in Walsall?

For those who are old enough to recall the 1970s, memories may include fashion trends such as bell-bottom trousers, frayed jeans, and disco glitter balls, as well as economic challenges like HYPER-INFLATION. Presently, with inflation rates at 10.4%, some may long for the past few years of sub-2% inflation.

However, during the 1970s, the UK experienced a decade marked by sustained double-digit inflation for seven of its ten years.  Inflation was a significant issue in the UK during the 1970s, with the average annual inflation rate reaching 12.3% per year.

In fact, prices surged by as much as 25% in 1975 alone, reflecting the extent of the inflationary pressures faced by the economy during that decade.

The high inflation of the 1970s in the UK was attributed to various factors, such as the quadrupling of oil prices during the 1973 Oil Crisis (which may sound familiar), powerful unions, a high level of growth and investment in the 1950s and 1960s, all of which made it easier for inflationary pressures to build up in the 1970s. The property market was not exempt from these inflationary pressures either.

Between the beginning of 1970 and the end of 1979, the average price of a house in Walsall increased significantly, rising from £3,758 to £19,465.

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Walsall Home Ownership Drops – Smashing Thatcher’s Dream…

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , ,

Walsall Home Ownership Drops – Smashing Thatcher’s Dream…

The housing data for Walsall has just been released from the 2021 Census and it makes interesting reading.  In 1975, Margaret Thatcher declared her conviction in a ‘property-owning democracy’.  Throughout the 1980s homeownership exploded and continued to grow for several decades thereafter.  What has happened to that dream nearly 50 years later?

Through prudence, saving and hard work, she believed that everyday British families should be able to purchase their own homes. Thus giving them security, self-esteem and independence and freeing them from the nanny state of local authority landlords. 

Although that idea was a Labour idea initially in the mid-1970s, Margaret Thatcher introduced legislation (Right-To-Buy) in 1980 to allow local authority tenants to buy their own council homes at significant discounts.  In the 1980s, homeownership boomed, although it had been on the increase for the previous two decades, the country and economy was led by Mrs. Thatcher into the direction to which house buying became a national passion. 

Between 1981 and 1990, home ownership went up from 11.88m to 15.47m.

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Why Does it Take 120 Days to Get the Keys When You Buy a Walsall House?

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , ,
Why Does it Take 120 Days to Get the Keys When You Buy a Walsall House?

Nationally, the average length of time it takes from agreeing the sale of a property to the keys being handed over is 111 days (down from 117 days last year), yet in Walsall, we are above the national average at 120 days.

So why does it take just over 17 weeks, when all that is required is the lawyers to look at some paperwork and get a mortgage? Also, what can Walsall homebuyers and sellers do to speed this up?

  • 1,215 properties have sold in the Walsall area in the last 12 months (Detached 274, Semi-Detached 451, Terraced 385, Flats 105).
  • It only takes 36 days to sell a Walsall home, so why does it take 120 days from the sold board going up to the buyer getting the keys?
  • With a shortage of solicitors and a sub-standard conveyancing system, this article discusses what Walsall house sellers (and buyers) can do to speed up the house buying process.

The legal process to buy and sell a UK property is called conveyancing. The conveyancing system itself hasn’t really changed in hundreds of years. When the housing market was reopened after the first lockdown in the spring of 2020, the property market returned with a bang, helped on with the stamp duty holiday.

In 2021, the number of properties selling in Walsall in some months went up massively, e.g., by 65% in March 2021 and by 96% in June 2021. Many conveyancers and solicitors had to sort the legal paperwork out for upwards of 70 to 90 properties each at any one time.

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My BTL Deal for the end of the Year, is a 2 Bed Semi Detached House, Shropshire Close, Walsall, WS2 With Yields of 5.29%.

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals , , , , , , , ,

2021 001-3

More good news for Walsall landlords. Added to the market at the beginning of this month is this two bedroom semi detached house marketed at offers over £170k by Dixons (01902 596801) & Connells (01922 312536). What I would say here, is that having multiple agents marketing a property is good news for the investor landlord. This may be a sign of desperation from the vendor, but it also confuses any potential buyer. So there is some mileage in negotiation on the selling price.

Another perfect spec ready for a quick let.

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Unique Walsall Buy To Let Opportunity – Yields 10.5%-10.75%

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals , , , , , ,
Jerome Chambers, Walsall - 19 Bed HMO
Jerome Chambers, Walsall – 19 Bed HMO

My Walsall BTL deal of the week is a little different this week. It certainly isn’t for the faint hearted or newbie landlord with the asking price in the region of £1m (£1,000,000.00)! I thought it was worth a mention on the Blog as it’s different to the usual type of stock we see and this type of property doesn’t come along very often.

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Covid-19 (Coronavirus): Walsall Landlord & Tenant Information

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , ,

Covid-19 Coronavirus – Walsall Landlord and Tenant Information

 

There is no doubt we are living in challenging times.  Until recently I thought, the main talking points this April would be around changes to EPCs and EICRs – but things are a little different now.

Walsall Landlords and tenants have a lot of questions about what all of this means for them and what support will be available during the coronavirus pandemic if they need it.

Over the past couple of weeks information/ announcements have been coming through thick and fast.  To help you as best as possible I’ve put together some of the primary information issued by the government for the private rental sector. We’re all aware that things are changing almost daily, and we’re keeping a close eye on the news as the government continues to issue further guidance and support.  The information I have to date is as of 31/03/2020.

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My BTL Deal of the Week 2 Bed Semi Northumberland Way Walsall WS2 With Yields Of 5.57%.

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals , , , , , , , ,

I’m returning to another very popular estate for rental property for Walsall landlords. Listed 3 days ago this two bedroom semi detached house is being marketed at offers for £140k by Connells (01922 716026). Another perfect spec ready for a quick let. I would say the asking price is slightly over the ‘going rate’ for similar property types and specs on the estate.

There are two double bedrooms, as well as a family bathroom.  A modern kitchen with integrated white goods, 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.

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My Buy To Let Deal of The Week 2 Bed Semi Yorkshire Grove Walsall WS2 Yields 5.57%.

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals , , , , , , , ,

A two bedroom semi detached house on a popular newbuild estate in Walsall, WS2. Marketed by Goodchilds (Call 01922 312016 ) with an asking price of £140k.

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My BTL Deal of the Week 2 Bed Terraced House, Penmire Grove, Walsall, WS4. With Yields Of 4.93%.

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals , , , , , , , ,

A 2 bedroom terraced house on Penmire Grove a new build housing estate about half a mile south of Rushall, Walsall, WS4. The property is being marketed by I Love Homes (01922 345905).

The spec looks perfectly on the money. Marketed at offers of over £140k, however it is I think that the price is a bit too optimistic as the last sale price was £131k 7 years ago.

The estate has an exclusive feel about it as it is somewhat off the beaten track. There is double glazing and gas central heating and off-road parking and is within easy reach of the major transport networks making quick commuting to other town centrs close by. There are a large variety of schools all within a mile plus healthcare and shopping amenities locally.

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My BTL Deal of the Week is a 2 Bed Semi Walsall WS2 By Modern Method of Auction Yields 8.25%

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals , , , , , , , ,

A 2 bed semi detached house on Monmouth Road, Bentley, Walsall, WS5. On the market with Lovett & Co (01543 526007) and priced at £80k Full details can be found here.

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