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Walsall Population

Walsall appears to be out-performing its much larger neighbours Birmingham and Wolverhampton when it comes to property prices. A report last week in the Birmingham Mail (15th Feb 2017) states that:

“In Birmingham, the average price was £165,249 in December 2016, a rise of 7,7% or £11,801 in a year, the equivalent of prices rising £32 a day. Out of everywhere in the West Midlands, Walsall saw the biggest percentage rise in prices - up 8.2% from last year, totalling an average of £149, 268.”

The full article in the Birmingham Mail goes on to state that “House prices across the UK rose by 7.2%, so Birmingham isn’t far off the national average". This is very welcoming news indeed. Here at iLove homes, we are finding that demand is outstripping supply in Walsall. We have also found that many properties advertised using the ‘Offers Over’ method are fetching higher than we anticipated. Let’s hope that 2017 continues to be a prosperous year for the Walsall housing market

Our Midlands based independent estate and lettings agency, iLove Homes, have donated £250 worth of new books to a local Cannock school, Heath Hayes Academy, following a competition to find out what it is that children love about their homes.

iLove Homes’s ‘why I love my home’ competition, ran in partnership with the school, saw sixty pupils illustrate what it is that makes their home special to them. We were really happy to see that so much detail had been put into the children's drawings!

Our company directors, Andrew Thomas and Lee Atkins, visited the school and chose three lucky winners, who also received a Valentine’s Day treat for their parents and guardians in the form of gift vouchers. It was a very difficult decision to make - Trust us!

Andrew, co-director at iLove Homes said, “Our ‘young hearts’ campaign aims to support young people in our community, and actively encourages personal development through art, learning and sport.  We believe it’s really important that we, as a local business, get stuck in and support our community. We were really humbled to see all of the hard work that the children at Heath Hayes Academy had put into the project, and it was really hard to choose just three winners! We hope the school and their pupils will benefit from our donation, and look forward to hearing some great stories from them”.

Amy Fidler, assistant head teacher at Heath Hayes Academy said, “The children thoroughly enjoyed thinking about and drawing what it is they love about their homes.  It was lovely to see them say that they loved things like their pets, their neighbours and their family rather than their Xbox and iPad.  We’re looking forward to choosing some new books with the children and would like to say a great big, thank you to ilove Homes for their generosity!”

Here at our well loved, walsall based property specialist agency, we are on course for our biggest year yet - We've recently seen a rapid increase in demand for family properties in the Midlands, and have, in turn, invested in our marketing and are happy to announce that we have appointed Yogurt Top Marketing and PReach PR to take over our digital and traditional marketing needs. Alongside our exciting marketing drive, we have expanded the reach of our community outreach projects in the hope that we will become the first choice agency within our community.

 

So go on, tell us... what is it that YOU love about your home?


The iLove Homes team

 

 

 

 

You can help us spread the word about our lovely local agency by sharing our blog posts on Facebook, Twitter, and of course, good old fashioned email.

Taxation Landlords

“Section 24” of The Finance Act (No. 2) 2015 isn’t actually a tax change. It is an amendment to GAAP (Generally Accepted Accounting Principles). It changes the way that profit is calculated and then introduces “tax relief”.

Let us be clear what Generally Accepted Accounting Principles are.

If a business has income of £1,000 and has £1,000 of expenses then its profit is zero.

If a business makes a profit then those profits are subject to tax at varying levels depending on the structure of the business and the amount of profit made.

Another generally accepted accounting principle is that if a person borrows money to buy something for personal use they can’t offset the costs of financing that purchase against other income. That applies to pretty much any product you can think of, e.g, a bucket and sponge to clean windows, a computer, a vehicle or a property. However, if a business borrows money to buy any of these things with the intention of generating an income the costs of financing those investments are a legitimate business expense.

Section 24 changes everything, but only for individual landlords. Generally Accepted Accounting Princples are only being amended for individual landlords by Section 24. The legislation does not apply to any other business, not even to incorporated landlords!

When Section 24 is in full force £1,000 of income minus £1,000 of finance costs to purchase income producing assets = £1,000 of profit for private landlords only.

Walsall Estate Agents

Property deal of the day – the Meadows, Aldridge

Buy to let yields of 4.23% on a most stunning Walsall property

A three-bedroom detached bungalow in this popular and much sought after area of Aldridge. The area is very popular with purchasers and renters alike and the street attracts a premium in the area.


The property benefits from an extremely high specification throughout and modern interior design. It is set in a 1/3 of an acre plot and has been completed renovated with newly re fitted central heating and upvc double glazing. It offers spacious living accommodation for families or professionals.
A viewing is a must to properly appreciate this wonderful property.

There are a number of excellent schools in the vicinity and local transport links via road and rail to Walsall, Sutton Coldfield and Birmingham. The current asking price is for offers in excess of £340,000 and based on a rental of £1200 pcm, this will return a yield of 4.23%.
Currently on the market with iLove Homes Walsall Estate and Lettings Agents .Dipping your toe into the property rental market for the first time or if you are an experienced landlord, give us a call to obtain impartial advice and guidance on how to achieve the best return on your investment. We have a wealth of experience you can draw on.


If this property does not meet your investment requirements, please contact us to discuss other properties which may be better suited to your needs or to discuss up and coming areas for private landlords to invest in. Call us now on 01922 669996 or you can email us. Lee and Andy always love to talk property!

Walsall Lettngs Agents

Its official – property investors are looking away from London. Could Park Hall become the place they look instead?

Fair enough, a Walsall suburb might not be the first place that springs to mind for property investors, but it offers them a considerable amount.

Take this property on Flinkford Close, for example.


Any investor will see straight away how rentable the property is – three bedrooms properties are always the best to invest in (one room for parents, one room each for the kids...) and this one also boasts off-road parking, a secluded garden, modern kitchen and bathroom and easy motorway access.
Experienced Walsall letting agents like us can also tell them about Queen Mary’s Grammar School, less than a mile away, where Ofsted found “standards, which are already very high, are continuing to rise” and where students “make outstanding progress”.
Local primary school St Ann’s is also rated as “outstanding” and the most recent inspection at the nearby Yew Tree Medical Centre reported “staff had the skills, knowledge and experience to deliver effective care and treatment”. But let’s look at the numbers.

Marketed at £750pcm, this property nets £9000 a year in rent. With average property prices in the area currently £164,460 (and appreciating in value at 5.7% per year) that means a return on your investment of 5.4%, 5% higher than the Walsall average. Let’s compare that to another desirable local area, the historic cathedral town of Lichfield. Here a 3-bedroom property will cost you £266,359 (40% higher), net £737pcm in rent and deliver a yield of just 3.3% (40% lower).

That’s still way above the average High Street savings rate of 0.55%, but I know where I’d put my money. And if you feel the same way, drop us a line and we’ll help you maximise yours.

 

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