Manning Stainton: Leeds property market ‘in for a healthy year’ as prices rise and first-time buyers flood market
A quarterly house price index (HPI) released by a Leeds-based estate agent, Manning Stainton, has provided new insights into the city's property market.
The first HPI for 2025, published on April 16, reveals that property prices in Leeds have increased by 3.7% since March 2024.
According to the report, the average house price in the region now stands at £276,273, with sales transactions rising by over 7% compared to the same time last year.
Additionally, data indicates that the number of first-time buyers surged by more than 18% in the first quarter of 2025 compared to the last quarter of 2024.
This increase is attributed to falling interest rates and the availability of more competitive mortgage deals, which have enhanced buyer confidence, the estate agent claimed.
Mark Manning, managing director of Manning Stainton, said: “The first quarter of 2025 was extremely busy and in March alone, we saw a 15% jump in the volume of sales compared to the same month last year. We also saw a huge rush to get sales completed before the reversion of the stamp duty back to its previous levels, and because of this the number of completions this March was up 90% compared to March 2024.
“What’s been really surprising is the surge in first-time buyer activity that we’ve seen since the start of the year, with a large number entering the market. This is fuelling activity in the low to mid-sections of the market, which is now starting to trickle through into the higher end too as people sell up and move up the ladder.
"First-time buyers are the lifeblood of the property market, so to see such a hefty increase in activity amongst them indicates the region’s housing market is in for a very healthy and positive year.
He added: “Transactions are likely to be down over the next quarter compared to Q1 now that the rush to beat the increased stamp duty charges has ended, but the first two weeks of April have been busy, so I expect it to be another positive few months for the market, which could be bolstered further if we see another interest rate reduction in May.”