Wednesfield is noted to attract many tenants seeking accommodation around major businesses in the area, which attracts many homeowners to buy-to-let properties. Commonly, you'll find your average 3 bedroom family home in this area to be an excellent average of £550-£600 rental value per month. It's fair to say that the usual tenant that can be expected for properties in this area are families seeking long term lets and want to live within the area due to commuter routes and local amenities such as a newly refurbished Leisure Centre and Guru Nanak. Professional tenants will surround the major businesses such as New Cross Hospital, Mercedes Benz dealership, a newly refurbished Supermarket and more! There is a presence of some properties For Sale in the area, which is complimented by below average asking prices, which appeal to buy-to-let vendors looking for a great investment.
You will find that Bilston is mainly comprised of rental properties, or properties that mainly generate buy-to-let interest. The rental demand is high in this area due to rental prices being below average for 3 bedroom properties . with the average in Bilston hitting £450-£500pcm, and due to the surrounding local amenities such as gym, fire station and market. This is generally beneficial for families seeking affordable accommodation, whilst also allowing Landlords to benefit from the possibility of long term lets. The general traffic within this area is working professionals who are attracted to the major businesses within the area such as Vehicle Auction Centres, Poundland Distribution Centre, and more! The area is known for its new developments such as Cemetery Street which is an immaculate new build development featuring mostly houses and Lowbridge Walk which is a development set within a spectacular grammar school!
As you can see with both areas you can expect longer tenancies and generally families opt into renting your homes, and there is a balance of properties For Sale in both, with Sales interest leaning towards more buy-to-let purposes. You'll find that investors will receive a great return and receive a high demand for rental properties.
Our agency manages plenty of properties in both areas, so we are highly knowledgeable in both areas and we have a great presence in both. For our specially tailored recommendations please give us a call on our office number.