As you might imagine…“What’s happening to the Walsall Property Market?” is a question I am asked often & repeatedly. Well, would it be a surprise to hear that my own research suggests that there isn’t just one big Walsall property market – but many small micro-property markets? In the past I have written about the dual speed Walsall property market but now I’m seeing the emergence of three!
For ease, I have named them the…
- ‘lower’ Walsall Property Market.
- ‘lower to middle’ Walsall Property Market.
- ‘middle’ Walsall Property Market.
The ‘lower’ and ‘lower to middle’ sectors of the Walsall property market have been fuelled over the last few years by two sets of buyers. The first set, making up the clear majority of those buyers, are cash rich landlord investors who are throwing themselves into the Walsall property market to take advantage of enticingly low prices and even lower interest rates. The other set of buyers in the ‘lower’and ‘lower to middle’ Walsall property market are the first-time buyers (FTB), although the FTB market is in a state of unparalleled deadlock as it’s been trampled into near-immobility and incapacity by the new 2014 stricter mortgage affordability regulations and also fewer mortgages with low deposits.
Some of you may be interested to know how I have classified the three sectors…