How does Unemployment Drive the Walsall Property Market?

Unemployment and the Walsall Property Market
Unemployment and the Walsall Property Market

If you have been reading my articles on the Walsall property market, you will see that in the three years since the referendum we have proved beyond doubt that ‘Brexit’ has had no effect on the Walsall property market (or the UK as a whole).

So one might ask, what does affect the property market locally? Well many things on the demand side include wages, job security, interest rates, availability of mortgages, confidence in the economy, inflation, speculative demand … the list goes on. Yet as my blog reading friends will note, I like to delve deeper into the numbers which has led me to find an interesting correlation between unemployment and the number of properties sold (i.e. transactions).

Why transaction levels and not house prices? Well just looking at Walsall house prices as a leading indicator has flaws. Many property market commentators and economists believe transaction numbers (the number of properties sold) give a more accurate and truthful indicator of the health of the property market than just house values alone. The reason is twofold. First most people when they sell also buy, so if property values have dropped by 10% or risen by 10% on the one you are selling, it would have done the same on the one you are buying – meaning to judge the health of a property market is very one dimensional.  Secondly…

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My BTL Deal of the Week is a 2 Bedroom Terraced House Walsingham Street Walsall WS1 Yielding 6.25%.

A traditional two bedroom terraced house in the Chuckery area of Walsall and a popular area for rentals.

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Brexit – What’s the ‘Deal’ with Walsall House Prices?

Brexit – What’s the ‘Deal’ with Walsall House Prices?
Brexit – What’s the ‘Deal’ with Walsall House Prices?

On a daily basis in Walsall I am talking to landlords and homeowners from all walks of life. Some are serial investors whilst others are accidental landlords or holding a small portfolio. I have always shared my thoughts on the local property market in Walsall and Brexit has come up a few times. Here are some links to past articles I have written on the topic:

25/04/2016  EU vote!! Which way should Walsall landlords vote?

24/06/2016  EU Referendum – 67.9% of Walsall Voters Vote With Their Feet…

20/09/2016  Walsall’s Generation Gap & Brexit – Did the Older Generation Let Down the Young?

09/05/2017  The effects of a ‘Hard Brexit’ on the Walsall Property Market…

I have been holding off giving my thoughts, as I did not want to add fuel to the stories being banded around in the national press. However, it’s obviously a topic that you as Walsall buy to let landlords and Walsall homeowners are interested in…

We may or may not as the case may be, have a potential deal in the offering, there is still an amount of ambiguity about the exit plan so I am going to try and give you what I consider a fair and impartial piece on what would happen in Walsall if a hard Brexit takes place in March 2019.

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My BTL Deal of the Week 3 Bed Mid Terrace Anson Road Walsall WS2 with Yields of 5.73%

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! Marketed by Connells (01922 716026) at £110k and stated as a ‘Fantastic buy to let investment opportunity’. The spec is bang on the money and ready to go. The full property details can be found here.

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My BTL Deal of the Day 2 Bed Semi Ludlow Lane Walsall WS2 with Yields of 5.49%.

A two bedroom semi detached house on a popular Reedswood estate in Walsall, WS2. The property is an absolutely wonderful spec and is very much good-to-go.

There are two double bedrooms, modern kitchen and bathroom, a low maintenance rear garden and off-road parking. The property also benefits from double glazing and gas central heating. 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.

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My Buy To Let Deal of the Day is a 2 Bed Semi Walsall WS2 with Yields of 5.59%.

A 2 bedroom semi detached house in the Beechdale area of Walsall. Marketed with Purple Bricks (024 7511 8874). The decor will need changing to something more neutral, otherwise it looks just the ticket.

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My BTL Deal of the Day is a 3 Bed Semi Edinburgh Avenue Walsall WS2 Yields 6.54%

Just added to the sales market today. This very nicely specced property is situated on Edinburgh avenue, Walsall, WS2. Currently marketed with Paul Dubberley (0121 659 6109) for an asking price of over £110k and based on a minimum pcm rental of £600.00 will yield 6.54%.

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