How’s this for a ship shape and ready to go deal? You don’t get more ready to go than a newbuild, do you? This 2 bedroom semi detached house on Waters Keep in Walsall, WS3 is part of a newbuild development in the north Walsall area, which continues to grow in popularity and re-development. The property is being marketed by Reed Rains (01543 439087) at £116500.
A two bedroom terraced house, Harebell Close, Tamebridge, Walsall, WS5. The asking price is £124950 with Henley Charles (0121 659 5777). Full property details are here.
Nestled in the highly popular and very desirable Tamebridge estate, speaks volumes as to the location and therefore the potential for long term letting.
Walsall’s ‘Baby Boomers’ Vs Walsall’s ‘Millennials’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.
I’m going to say right up front that the decor here is not to everyone’s taste, however, do not let that stop you from letting it as it is, because the spec is top-notch. Get in there now and arrange a viewing! Plenty of photos to really soak up the presentation of the property.
A two bedroom terraced house in the Birchills area of Walsall, WS2, The asking price is £90000 and though there are other properties in the area that go for less, the price is still below average for the area and the specs are not of the same quality.
It is marketed as a two/ three bed house as one of the reception rooms is being used as third bedroom and from what I can see it hasn’t been converted and changing it back to a reception room shouldn’t be too much of a hassle.
A two bedroom semi detached house on the prestigious and popular Tamebridge estate in Walsall. The area is very high profile area for renting and rental prices tend to attract a premium on the estate. The property benefits from double glazing and gas central heating. Parking is off-road. 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 and West Bromwich town centres.
I can’t remember who coined it first but the first time I heard it was when Mrs Thatcher said it…“An Englishman’s home is his castle-and everyone should own their own home”.
In 1971, around 50% of people owned their own home and, as the baby-boomers got better jobs and pay, that proportion of homeowners rose to 69% by 2001. Homeownership was here to stay as many baby boomers assumed it’s very much a cultural thing here in Britain to own your own home.
But on the back of TV programmes like Homes Under the Hammer, these same baby boomers started to jump on the band wagon of Walsall buy to let properties as an investment. Walsall first time buyers were in competition with Walsall landlords to buy these smaller starter homes… pushing house prices up in the 2000’s beyond the reach of first time buyers. Alas, it is not as simple as that. Many factors come into play, such as economics, the banks and government policy. But are Walsall landlords fanning the flames of the Walsall housing crisis by adding to the bonfire?
January 2017 is almost over and finally I feel like the dust has settled allowing me the opportunity to catch my breath to reflect on the past year.
2016 was certainly eventful. The ongoing saga that is Brexit, the Queen’s 90th , Andy Murray winning Wimbledon, Trump, Bake Off to Channel 4, the Autumn Statement and something close to the hearts of every buy to let landlord and homeowner in Walsall… the changes in the local property market.
So, let’s look at the headlines for the Walsall property market in 2016…
In the last month, Walsall property values rose by 0.48%, leaving them, year on year 4.34% higher, whilst interestingly, Walsall asking prices are down 0.7% month on month. All three statistics go to show the Walsall property market has recovered well after the summer lull, which was worsened by the uncertainty surrounding the EU vote back in June. Irrespective of all the issues, the average value of a Walsall home now stands at £176,085.
A 3 bedroom semi detached house in the Alumwell area of Walsall, currently marketed by Bairstoweves (01922 312 791).
There is an open house viewing on Saturday 21st January 2017 from 10.00am so get yourself along to it and have a look for yourself.
Looks like a decent spec, but the decor will need to be changed for obvious reasons. However, without a internal viewing it is impossible to assess if any other improvements need to be made.
The pcm rental you could expect for this property is in the region of £595.00 and therefore if the property sells at the current asking price of £110k this will result in a yield of 6.49%.
During a site visit last week I was approached by a mature, friendly gentleman who lives next door to one of the properties I manage in Pelsall. He lives in a Bungalow, which is one of my favourite property types that he owns outright (mortgage free). We got talking about the Walsall property market and then he mentioned something which piqued my curiosity. How many other Walsall pensioners are in a similar situation?!
Walsall people aged over 65 currently hold more housing wealth in their homes than the annual GDP of the whole of Northumberland (strictly speaking a county can’t have a GDP, but as everyone knows the phrase, it works for comparison purposes!)
This is a problem for everyone in Walsall!
Many retiree’s want to move but cannot, as there is a shortage of such homes for mature people to downsize into. Due to the shortage, bungalows command a 10% to 20% premium per square foot over houses of the same size with stairs. To add to the woes, in 2014, just 1% of new builds in the UK were bungalows, according to the National House Building Council – down from 7% in 1996.
Welcome back to the first Walsall Property Market blog article of the New Year! I hope you enjoyed a well deserved break over the holidays?
Over the weekend I received a call from a newbie landlord living in the south who was purchasing his first buy to let Walsall property. He said he had been following my blog for a while and wanted to ask a few questions. His first question was “How much rent can I achieve for my property?” A question I get asked once or twice a year…!!
I thought it was only fair to explain the thoughts behind an appraisal and how I arrive at the appraisal level when I go out to a property. Below are the key points of that conversation and my thoughts…
Walsall Property Blog 
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