Ruislip Property Market: Which homes are selling the best?

Inflation, interest rates, house prices down, house prices up ... the newspapers are full of column inches on Brit’s second favourite topic - the property market (the first being the weather obviously!).

Those of you that read my articles on the Ruislip property market know I like to look further afield to compare the Ruislip market with the regional and national markets. The one thing that is immediately apparent is that the UK does not have one property market.

House prices are up in one region of the UK, yet down in another. It is a hotchpotch patchwork (almost like a fly’s eye) of lots of small property markets all performing in different ways.  

… and that made me think …

Is there just one Ruislip property market or many?

So, I decided to dive into the dynamics of the Ruislip housing market, to see if it operates as a singular entity or if the diverse price ranges significantly influence a property's saleability.

This curiosity stems from the observation that properties, much like a spectrum, range from modestly priced to premium priced. Such variations in pricing could potentially carve out distinct segments within the market, each with its own trends and buyer behaviours. I decided the best way was to split the Ruislip property market into four equal sized distinct price ranges, each representing a unique slice of the market.

Imagine the entire range of house prices as a four-layer cake.

The lowest quartile forms the base layer, representing the most affordable 25% of homes – these are typically the most accessible for first-time buyers and buy-to-let landlords. Next up is the lower middle quartile, the second layer, encompassing properties priced between the 25th and 50th percentiles. These homes offer a step up in features, style or location while remaining within a moderate price range.

Ascending further, the middle upper quartile, the third layer, includes homes priced between the 50th and 75th percentiles, appealing to buyers looking for more amenities or premium locations. At the top sits the upper quartile, the cream of the crop, representing the most expensive 25% of properties in Ruislip. These homes are often luxurious, boasting high-end features and coveted locations, and are sought after by those who desire the best the market has to offer.

By segmenting properties into these quartiles, we gain insight into their saleability and can tailor strategies to target buyers effectively within each segment.

These are the quartile/house price bands for Ruislip:

• Lowest Quartile - (0 to 25% quartile in terms of value) - Up to £400,000
• Lower Middle Quartile - (25% to 50% quartile in terms of value) - £400,000 to £600,000
• Middle Upper Quartile - (50% to 75% quartile in terms of value) - £600,000 to £700,000
• Upper Quartile - (highest 25% quartile in terms of value) - £700,000 upwards

So, having split the Ruislip property market approximately into four equal sizes, the results in terms of what price band has sold (subject to contract or stc) the most is quite enlightening –

The statistics across various price ranges present an interesting pattern. For properties priced up to £400,000, there are 97 available, with 80 already sold subject to contract (STC), representing a 45.2% sale rate.

In the next price band, £400,000 to £600,000, there are 90 properties available, with 117 sold STC, accounting for a 56.5% sale rate.

The £600,000 to £700,000 range shows 71 properties on the market, of which 69 have been sold STC, indicating a 49.3% sale rate.

Lastly, for properties priced at £700,000 and upwards, there are 98 available, with 85 sold STC, resulting in a sale rate of 46.4%.