Walsall Property News

Is the buy to let dream over for Walsall Landlords? Property Transactions in the Borough down by 23.3%!!

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , ,
Is the buy to let dream over for Walsall Landlords? Property Transactions in the Borough down by 23.3%!!
Is the buy to let dream over for Walsall Landlords? Property Transactions in the Borough down by 23.3%!!

In this post credit crunch world of sub terrain low interest and annuity rates, the growth of buy-to-let since 2009 has been phenomenal. The rates are so low, even a limbo dancer would struggle! So much so, there has been an evolution in purchase of property in the UK from that of just buying the roof over one’s head to that of a buy-to-let investment where it is seen as a standalone financial asset to fund current and future investment – complimenting or even replacing a pension. So recently, a couple of weeks before the release of latest Land Registry data of property transactions, quite a few market commentators were anticipating a huge increase in the number of properties sold in March as the 1st April 2016 stamp duty deadline got closer.

So what do the numbers tell us?

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“Ready To Go!” 2 Bedroom Terraced House, Pargeter Street, Walsall, WS2. With Yields Of 7.13%.

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

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Roll up, roll up guys and gals and feast your eyes on this little beauty! My advice? Get in there now and arrange a viewing! Unfortunately, no photos of the bedrooms or rear garden, but from what I can see, the spec is bang on the money. If the two bedrooms are in just as good a condition, then this baby is good to go.

A two bedroom terraced house in the Birchills area of Walsall, WS2, The asking price of £79950 and if everything checks out, is an absolute bargain! Apologies for all the exclamations, but someone else is gonna snap this up. The asking price alone is a good twenty grand below the average and nothing, on the face of it, needs to be done in order to let this one out straight away.

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“Ready Made Tenant” 3 Bedroom Terraced House, Essex Street, Walsall, WS2. With Yields Of 7.00%.

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

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‘Great investment or first time buy’, so reads the post. There is a tenant already in situ, so on the face it, this one seems all ready to go. However, there is just one vital piece of information the agent has neglected to mention…Can you guess what the vital piece of information it is? Yep, that’s right…They forgot to mention what the current monthly rental is…Quite a HUUUGE omission when they’re marketing the property with ‘Sitting tenant’, don’t you think? Anyway, I contacted the agent and they confirmed the pcm rental to be £525.00.

Sadly, lacking photos of the bathroom and the bedrooms. Additionally, these photos must have been taken before the tenant moved in, so a viewing is an absolute must in order to evaluate its current state. But from what I can see, a nice and tidy property with a decent spec.

The location is ideal for local schools and other amenities and transport services are within easy reach. There is double glazing, gas central heating and parking is On-road.

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“Fine and Dandy” 2 Bedroom Terraced House, Dandys Walk, Walsall, WS1. With Yields Of 6.00%.

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

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A traditional two bedroom terraced house in the Caldmore area of Walsall, WS1. A pretty nice spec, however, there will need to be some changes to the decor. The asking price is about average for the type and area. The location is ideal for local schools and the Blue Coat Academy is just a quick walk round the corner. Healthcare amenities such as doctors, dentists and chemists are also within easy each. Transport services are very good with bus routes and major road networks nearby with Walsall town centre on your doorstep. There is double glazing, gas central heating and parking is off-road. I would urge a viewing sooner, rather than later.

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“Take A Chance On Me?” 2 Bedroom Terraced House, Dora Street, Walsall, WS2 With Yields Of 7.12%.

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

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As the post states, ‘In need of modernisation’. In my humble opinion, it is not lettable in its current state. For one, it doesn’t look like it has any form of central heating. Secondly, lack of photos to the rest of the property really doesn’t allow an informed opinion as to the overall property condition. A viewing is a must, therefore and sooner rather than later. On the positive side the location is popular for rented accommodation and is less than a mile from J9 of the M6 and adjacent to other major road networks. There are a wide selection of schools within a mile radius along with other amenities.

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Walsall First Time Buyers Should Make Hay Whilst the Sun Shines!

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , ,
Walsall First Time Buyers Should Make Hay Whilst the Sun Shines!
Walsall First Time Buyers Should Make Hay Whilst the Sun Shines!

I was talking to one of my portfolio landlords the other day as I was helping him to source another buy-to-let property when he mentioned something that made me think.  He was complaining about the amount of additional Stamp Duty he had to pay (due to the increase in April 2016), which I have discussed in a previous article on this blog.  This made me think about the other side of the property market who stood to benefit from the investors gripe..first-time buyers of course!!

There’s a whole legion of wannabe Walsall first-time buyers keen to get on the property ladder and they now have a 3% price advantage over the previously quicker responding army of Walsall landlords with cash at the ready. Since the start of April, buy-to-let landlords have had to pay an additional 3% stamp duty on their purchases so, whilst demand from some buy-to-let landlords has dropped away, in the interim, it offers first time buyers a chance to fill the vacuum with less competition from cash rich landlords – over two thirds of buy-to-let properties were purchased without a mortgage in the last 7 years – who could bid more and complete quicker.

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2 Bedroom Terraced House, Bentley Lane, Walsall, WS2. With Yields Of 6.34%.

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

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A two bedroom terraced house in the Birchills area of Walsall, WS2, listed 3 days ago! There’s room for improvement here as the spec is not up to a lettable standard in my humble opnion. The asking price is £89950. The location is ideal for local schools, all within a mile. Healthcare amenities such as doctors, dentists and chemists are also within easy each. Transport services are very good with bus routes and major road networks nearby with Walsall town centre less than a mile away. There is double glazing, gas central heating and parking is on-road. I would urge a viewing sooner as soon as you can.

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3 Bedroom Terraced House, Glastonbury Crescent, Walsall, WS3. With Yields Of 6.60%.

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

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A three bedroom terraced house on Glastonbury Crescent, Walsall, WS3. Billed as an investment property. It has a pretty much standard spec, so to get top dollar I would advise upgrading the decor/ flooring/ bathroom etc. I would advise a viewing as soon as possible to check out the property internally, after all, that’s what viewings are for, right? There are many schools locally and many are within a mile distance. Healthcare amenities eg doctors, dentists etc are also nearby. Transport services are very good with bus routes and major road networks adjacent lending easy access to Walsall, Bloxwich, Pelsall and Brownhills town centres. There is double glazing and gas central heating.

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Walsall Tenants are Setting Their Own Rents!!

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

Last week I went to meet a landlord who found me through my blog.  The property was a traditional end of terrace in north Walsall between Leamore and Coalpool.  The landlord had the property with an agent from out of the area and wanted my opinion.  Or at least that’s what I thought…

Quite often, when talking about the rental market, we talk about property, condition, area, location, amenities/ facilities etc. and seem to forget one of the most important parties to the equation… tenants.

Without tenants, there is no demand for the rental property. The profile of the Walsall tenant has changed and continues to change.  Although this is in part due to the credit crunch, job mobility and the raising of deposits, an increased number of people in their twenties are choosing to rent rather than buy and have done so, even when they were in a position when they could have bought a property.

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2 Bedroom Terraced House, Broad Lane, Walsall, WS3. With Yields Of 6.43%.

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

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A two bedroom terraced house in the Bloxwich area of Walsall, WS3. A superb spec on this property and can be let as is. Not much to look at on the outside, but inside a very nicely presented property. The asking price is at the higher end due to the higher end spec and area. The location is ideal for local schools. many within a mile radius. Healthcare amenities such as doctors, dentists and chemists are also within easy each. Transport services are excellent with bus and rail routes nearby. Bloxwich town centre less than a mile away and Walsall town centre not much further. There is double glazing, gas central heating and parking is on-road. I would urge a viewing sooner, rather than later.

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