walsall property

Walsall Property and the Housing White Paper..Back to the Future Part 2 (2037)!!

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , ,
Walsall Property and the Housing White Paper..Back to the Future Part 2 (2037)!!
Walsall Property and the Housing White Paper..Back to the Future Part 2 (2037)!!

I had an interesting conversation with a landlord who called me last week.  He manages his own portfolio and seemed well versed with the lettings industry.  He kept himself updated of the constant and fast changing world of housing and all the happenings in the Walsall Property Market.  He said he had been receiving my newsletters for some time now and followed my Blog with interest and wanted to pick my brain on the much awaited housing White Paper.  A summary of my thoughts and discussion with the landlord follows…

In case you didn’t know, a few weeks ago, the Government released a White Paper on housing.  It was interesting to note that the Private Rental Sector (PRS) played a key part in the future plans for housing. This is especially important for our increasing Walsall population.  It follows nicely from the article I wrote last week regarding Walsall property since 1981 where we looked back at what has happened since then.  In today’s article we can marry both the White Paper impact on Walsall’s Property Market, together with projections for the future and how they both tie in.

In 1981, the population of Walsall stood at 255,509…

…and today it stands at 278,902.

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Walsall Property – Back To The Future 1981!

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , ,
Walsall Property – Back To The Future 1981!
Walsall Property – Back To The Future 1981!

Oddly, for some reason, as a 5 year old back in 1981, I remember some things quiet vividly and others not so much thankfully!  I can remember there was a lot of snow and black ice everywhere which had me and my father playing games such as taking a running slide to see who can ski the furthest!  In other parts of the living world I was happily oblivious to the fact that; Mrs. T was in power, we had a Royal Wedding, England won the Ashes, Walsall FC were managed by Alan Buckley and Bucks Fizz won Eurovision!!

So what has happened to property prices since then I thought?  How have things transformed?  The number of homeowners and property investors who wished they had in hindsight, purchased up every house in Walsall all those years ago, particularly when you consider what has happened to Walsall property prices since…

…Walsall Property Values since 1981 have risen by 646%!

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Walsall And The Next Generation Of Households.

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , , ,
Walsall And The Next Generation Of Households
Walsall And The Next Generation Of Households

Do you remember the good old days of the 1970’s and 1980’s? The new generation may be surprised to learn certain facts such as the days when we had 24% inflation, 17% interest rates, a 3 day working week, 13% unemployment and power cuts! But hey…at least people could afford to buy their own home! So why aren’t the 20 and 30 year old’s buying in the same volume as they were 30 or 40 years ago?

A number of people blame the credit crunch and global recession of 2008, which had an enormous impact on the Walsall (and UK) housing market. For the most part, the 20-something first-time buyers who, faced with a tricky mortgage market, the perceived need for big deposits, reduced job security and diminishing disposable income, discovered it simply too challenging to get on to the Walsall property ladder.

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Walsall Unemployment Rates Drop to 7.3%! What Does This Mean for Walsall’s Property Owners?

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , ,
Walsall Unemployment Rates Drop to 7.3%! What Does This Mean for Walsall’s Property Owners?
Walsall Unemployment Rates Drop to 7.3%! What Does This Mean for Walsall’s Property Owners?

It was late May 2016, The Right Hon. Member for Tatton, Mr George Osborne, published an official HM Treasury analysis stating UK house prices would be lower by at least 10% (and up to 18%) by the middle of 2018 compared with what is expected if the UK remained in the European Union.  So, eight months on from the Referendum, are we beginning to show signs of that prophecy?

The simple answer is yes and no.

Good barometers of the housing market are the share prices of the big UK builders. Much was made of Barratt’s share price dropping by 42.5% in the two weeks after Brexit, along with Taylor Wimpey’s equally eye watering drop in the same two weeks by 37.9%. Looking at the most recent set of data from the Land Registry, property values in Walsall are 5.75% up month on month (however, the month before that, they had seen decrease of 0.1%) – so is this the time to panic and shout?

Doom and Gloom then?  Well, let me consider the other side of the coin.

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Walsall’s ‘Baby Boomers’ Vs Walsall’s ‘Millennials’

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , ,
Walsall’s ‘Baby Boomers’ Vs Walsall’s ‘Millennials’ 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.

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Are Walsall Landlords Exploiting Walsall Property?

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , , ,
Are Walsall Landlords Exploiting Walsall Property?
Are Walsall Landlords Exploiting Walsall Property?

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?

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Predictions for Walsall Property 2017

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , ,
Predictions for Walsall Property 2017
Predictions for Walsall Property 2017

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.

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2 Bed Terraced House in Bloxwich, Walsall, WS3 Yields 6.33%

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

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This is a two bedroomed terraced house situated on Foster street, Walsall, WS3.  On the market with Goodchilds (01922 312 016) and priced at £90000.  The full property details can be found here.

Based on the photos that are available the spec is very nice and is complemented by a refitted bathroom.  I have written in some previous articles on the regeneration in the North Walsall area and why it is a viable proposition for investing in buy to let properties.

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How Much Rent Can I Get For My Walsall Property?

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , , , ,
How Much Rent Can I Get For My Walsall Property
How Much Rent Can I Get For My Walsall Property

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…

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Pace Yourself with Walsall Property…!!

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , ,
Pace Yourself with Walsall Property…!!
Pace Yourself with Walsall Property…!!

With the fast approaching Christmas holidays soon upon us some prayers are being offered by the local bob sleighing enthusiasts for snow although, we are more likely to see it between January to March than December.  However, the Walsall property market has a pretty confident feel to it.

With the underlying fundamentals of a continued lack of properties being built, a shortage of properties – both in terms of quantity and quality -coming to the market and the continued low mortgage rate environment, enquiries from first time buyers and buy-to-let landlords is strong and motivation is even stronger, given those inexpensive lending rates and general demand caused by under supply.

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