What is actually selling in the St Albans property market?

In speaking with other property colleagues within our network and around the UK it seems there is not just one UK Property Market. In fact it is made up of lots of individual areas. Is the same true at a more local level?

 

In doing some analysis, I was thinking how we could best break down the St Albans market into smaller segments so as to identify which area is performing best.

Using market price, we’ve put properties into roughly 4 equal groups, each containing 25%:

 

- Lowest Quartile (lowest 25% in terms of value) … Up to £375,000

- Lower/Middle Quartile (25% to 50% Quartile in terms of value) ...  £375,000 to £500,000

- Middle/Upper Quartile (50% to 75% Quartile in terms of value) ... £500,000 to £650,000

- Upper Quartile (highest 25% in terms of value) ... £650,000 Upwards

 

Then we looked at what has sold the most in each of these bands:

 

St Albans 

Available

Sold STC

% Sold

Up to £375,000

195

174

47.2%

£375,000 to £500,000

208

129

38.3%

£500,000 to £650,000

224

104

31.7%

£650,000 Upwards

284

159

35.9%

 

The lowest quartile is performing the best with the top half finding things toughest. No surprises there. Interestingly though, the lower middle quartile is selling well… this may well indicate that some landlords are adding to their Buy-To-Let portfolios!

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