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Walsall Buy-to-Let 2024 Guide

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    Everything You Need to Know About Walsall Buy-to-Let

    Walsall has an advantageous location in the centre of the West Midlands, close to Wolverhampton and Birmingham. This market town has a population of over 284,000 and an international reputation in the leather industry.

    But how does it look for buy-to-let investors?

    This guide looks at Walsall’s buy-to-let landscape, covering rental yields, property prices and more. We’ll also compare the Walsall property market with the rest of the United Kingdom, helping property investors focus their investment strategies.

    Read on for more information on investing in buy-to-let in 2023/24.

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      Buy-to-Let Property Prices in Walsall

      The HM Land Registry UK House Price Index puts the average property price in Walsall at £219,911.

      If we break down that average by property type, the average property prices for different homes in Walsall are:

      • Detached: £364,923
      • Semi-detached: £225,440
      • Terraced: £179,178
      • Flats and maisonettes: £129,495

      Over the past year, properties in Walsall have increased in price by 3.50%. Detached homes saw the most significant price at 4.30%.

      According to the same index, the UK’s average house price is £291,044 as of late 2023. This makes Walsall 27.84% less expensive than the national average.

      There are many variables behind the cost of buy-to-let; discover how to get into property investment and the basics of stamp duty for buy-to-let with daily RWinvest insights and articles!

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      Buy-to-Let Rental Market in Walsall

      According to the Walsall Rental Market Summary on Home.co.uk, the average rental cost in Walsall is £996 PCM. This gives an average rental yield in Walsall of 5.43%.

      The average rental yield in the United Kingdom is around 5.2%, making Walsall slightly more lucrative in terms of gross ROI.

      Referring back to the Home.co.uk averages, renters can expect to pay £425 PCM for a room, £782 PCM for a flat and £1,164 PCM.

      The Homelet Rental Index shows the UK has an average rental cost of £1,276 PCM. As such, Walsall is 24.64% cheaper than the average UK property.

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      Investment Properties for Sale in Walsall

      There are various properties available in Walsall, including detached and semi-detached properties, as well as terraced. As mentioned, house prices in Walsall are lower than the overall UK average, meaning that investors could potentially secure solid rental returns.

      On average, over the last year, properties in Walsall cost around £235,480. Most of these sales were semi-detached properties (which saw an average price of £236,800), followed by terraced properties (which saw an average price of £189,083). At the same time, detached properties fetched an average price of £403,686.

      Overall, sold prices in Walsall were 1% higher than last year and 6% up on the 2021 peak of £221,416.

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        Buy-to-Let Investment in Walsall: Area Breakdown

        In this section, we cover some of the best areas for investment in Walsall.

        Please note: Prices are taken from Rightmove. Rental yields are calculated from data on housesforsaletorent.co.uk.

        WS1

        WS1 encompasses the Walsall town centre, Caldmore, Palfrey, Highgate and some other areas. The town centre has a mix of commercial and residential properties, though there are plans to add new homes to the area and regenerate it into a nicer place to live.

        Caldmore offers very cheap properties. However, crime rates are high in the area, which will put off a lot of tenants.

        This area has good access to motorways and Birmingham.

        Average Property Prices in WS1

        The average property price in WS1 is £195,162.

        Average Rental Yield in WS1

        The average rental yield in this postcode is 4.12%.

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        WS2

        This area includes Pleck, Bentley and Leamore. Property prices are relatively low here, while the average rent is relatively high at £965 pcm. Rental yields are also higher than the Walsall average in this postcode.

        Average Property Prices in WS2

        The average property price in WS2 is £156,600.

        Average Rental Yields in WS2

        The average rental yield in WS2 is 7.39%.

        Freehold Vs Leasehold – Download Our Free Guide!

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          Walsall street view

          WS3

          WS3 include Bloxwich, Coal Pool and Pelsall.

          Bloxwich is a separate town with amenities and schools. The area has two railway stations that connect to Birmingham New Street in roughly 30 minutes.

          Average Property Prices in WS3

          The average property price in WS3 is £202,528.

          Average Rental Yield in WS3

          The average rental yield in WS3 is slightly lower than the Walsall average at 4.52%.

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            WS4

            Rushall is a former mining village that has since become a northern suburb of Walsall. The area has its own football team. Rushall provides good access to Walsall town centre and the neighbouring Lichfield.

            Average Property Prices in WS4

            The average property price in WS4 is £215,332.

            Average Rental Yield in WS4

            The average rental yield in WS4 is 4.3%.

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            Why You Should Consider a Buy-to-Let Investment in Walsall

            Good Location

            Walsall is well-situated in the centre of the West Midlands. The town is less than ten miles from Birmingham, Wolverhampton, West Bromwich and Lichfield. As such, it serves as a potential property market for people willing to commute to those areas and save on rental costs.

            Walsall sits on the M6 motorway, providing access to other parts of England. It also has several train stations, allowing commuters to reach the rest of the West Midlands easily.

            Commuters can reach London from Walsall in under three hours by car and just over two hours by train, with a short stop at Birmingham New Street.

            Walsall is also situated in close proximity to the University Of Wolverhampton, making the area a strong choice for those interested in student investment property.

            Regeneration Prospects

            Walsall Council has come up with a 20-year master plan for improving the town centre. The council intends to make the town one of the healthiest town centres in the country, promoting a bustling economy, a stronger rental market, and better local amenities. The master plan aims to improve living standards and provide more leisure activities and nightlife.

            Walsall benefits from the Black Country Enterprise Zone, which attracts new industries and jobs to the town. The zone looks to boost the advanced engineering and manufacturing sectors and produce components for logistics and environment technologies.

            The Phoenix 10 scheme also intends to bring over 40 acres of disused wasteland back into use on the M6. The scheme is hoped to result in a modern industrial and business park providing over 1,000 jobs.

            These development plans may help Walsall become a more enticing property investment opportunity in the future.

            Freehold Vs Leasehold – Download Our Free Guide!

            What's the difference between freehold vs leasehold property, and what do you need to know as an investor? Fill in your details now to download our helpful guide.

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              Walsall New-Builds

              Due to the ongoing supply and demand imbalance in Walsall – and the rest of the United Kingdom – Walsall council and private developers have devised plans to introduce new-build homes to the Walsall area.

              One such plan would see £33.8 million injected into the Rushall area, building a new estate and providing 150 new homes. Another strategy will produce an additional 130 houses on green belt land between Longwood Lane and Sutton Road, providing essential and affordable housing that will attract buyers and tenants.

              It is crucial that developers continue to build new properties in areas like Walsall, as this will alleviate supply and demand issues in the private rental sector.

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              Off-Plan Properties in Walsall

              While Walsall has good value properties for sale and multiple regeneration schemes underway, it does not have as many off-plan property opportunities as other areas throughout the UK.

              Investors may need to look further afield if they want to take advantage of an off-plan initiative.

              For instance, Liverpool is likely to attract more off-plan opportunities due to its vast student demographic and position as one of the biggest investment cities in the UK.

              Read More: Discover more about this investment trend with our recent buy-to-let guides, covering everything from off-plan property in Basildon to the latest UK hotspots!

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                How Does Walsall Compare to Other UK Regions When it Comes to Buy-to-Let?

                As we have pointed out, some parts of Walsall have high crime rates. In fact, Walsall is the second-most dangerous location in the West Midlands region. In 2022, Walsall experienced 151 crimes per 1000 people.

                This is something landlords should consider before investing in property. Tenants prefer properties where they feel safe.

                While house prices are relatively low in Walsall, the yields are meagre. With the crime rate on top of this, buy-to-let investors may want to cast their eyes further afield.

                Somewhere like Liverpool fits the bill if you’re looking for good-value properties. According to the UK House Price Index, the average Liverpool property price stands at £180,268. This makes Liverpool property prices cheaper than Walsall. In addition, properties for sale in Liverpool City Centre can typically see average rental yields of around 6.85% (per stats from Home.co.uk) – almost 1.5% higher than Walsall.

                Get a closer look at the UK buy-to-let market with RWinvest’s insights into Swindon Investment Properties!

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                  Want to Invest in Walsall?

                  So, is investing in Walsall the best UK property investment strategy?

                  The area has strong transport links to places like Wolverhampton, Birmingham and Lichfield, and property values are solid compared to the national average. While rental yields are average, Walsall is one of the less appealing places to live in and invest, thanks to crime rates higher than the county average and more appealing options further afield.

                  If you are serious about property investment, ensure you conduct thorough research into different housing markets with good value properties, regeneration potential and attractive yields – this will help capital growth in the long run.

                  To learn more about buy-to-let in different areas of the UK, check out some of our latest guides:

                  Map of Walsall

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                  Author

                  Dale Barham

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                  Dale is a property news and onsite content writer at RWinvest.

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