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If you’ve ever considered selling your Wolverhampton home, you may have felt the temptation to list it at a higher price, hoping for a bigger payday. After all, who wouldn’t want to maximise the return on their largest tax-free investment?
However, this approach has a downside that many Wolverhampton homeowners - and even some estate agents- overlook: the risks and costs associated with overpricing/overvaluing your property. Recent data shows that homes priced too high take much longer to sell and are far less likely to complete the sale successfully. Let's dive into why correct pricing is essential to ensure a smooth and profitable sale for your Wolverhampton property.
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The Renters’ Rights Bill, recently announced by the Labour Government, introduces sweeping changes to the private rental sector in England. The Bill is not law yet as it needs to pass through parliament, still many landlords may feel apprehensive about these reforms. Yet it’s important to note that much of what the Bill introduces was going to introduced by the Tory’s earlier in the year (yet they ran out of time before the General Election). It has been discussed in detail over the past few months in our articles on the Wolverhampton property market.
Let’s explore the key points that Wolverhampton landlords should be aware of and how they impact the sector.
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Welcome back to news of Wolverhampton's property market, where each week we bring you different local property market stats and trends. This week we are back again with the September’s £/sq.ft statistics.
The average property presently in Wolverhampton is on the market for £263 per square foot, a figure representing the current heartbeat of Wolverhampton's property market.
Last month it was £266 per square foot.
That doesn’t mean Wolverhampton's house prices have changed by that percentage, just the mix of properties for sale, thus changing the £/sq.ft figure. This snapshot is crucial for Wolverhampton homeowners and landlords; it's not just a number but a story of our community's property market.
Each month, we will revisit that figure and use it to gauge the health of our local property market.
Are you keen to know how your home aligns with these trends?
We invite you to a no obligation chat about your property's potential value – no strings attached.
Stay informed, stay ahead, and stay connected with Wolverhampton's property market beat.
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Or Has it Ever Been Out of Fashion?
The terraced house, once considered a relic of the past, is making a notable comeback. But one might wonder - did it ever truly go out of fashion? The simple, unassuming two-up two-down, a hallmark of Victorian red brick Britain, is now being rediscovered by modern Wolverhampton buyers looking for more than just a place to live. They want a home, a slice of history, and the benefits of ownership that many newer properties simply don't provide.
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What Landlords Need to Know
On Wednesday, Parliament had the first reading of the Renters’ Rights Act, and we want to take a moment to reassure landlords that there’s really nothing groundbreaking in these proposals that should catch you off guard. In fact, most of the changes were part of the Conservative Party’s agenda before they lost power in July. Regardless of which political party is in charge, these reforms were set to come into play, so there’s no need to worry that anything revolutionary is happening. Let’s break down what’s involved and how it might affect you as a landlord.
