‘Realistic prices are back’ – estate agent Mark Manning on the big Leeds housing change
Over the past five years, the housing market has been defined by demand consistently outstripping supply.
Since 2020, buyers have been competing fiercely for limited stock, with many homes selling at record prices and often well above asking price.
It created an environment where sellers held the most power, and securing a property meant buyers had to move fast and be prepared to stretch their budgets, explained Leeds-based property expert Mark Manning, managing director of Manning Stainton.
He said: “As we move further into 2025, there are clear signs that the market is changing. Stock levels are on the rise, and although demand remains strong, the balance between supply and demand is beginning to level out.
“Our latest figures show that the number of properties available locally is now at its highest point for more than a decade. As a result, the average time it takes for a home to sell has lengthened slightly, up by around four days compared to the same period in 2024.”
This shift is not dramatic enough to cause alarm. Buyers are still highly active, and homes continue to sell at healthy prices. However, the subtle rebalancing of supply and demand is shaping a new dynamic.
Here’s what Mark thinks it means for the local property market and what buyers and sellers now need to consider when making a move:
A return to more realistic asking prices
In the frenzied market of recent years, properties could be priced ambitiously and still attract multiple bidders willing to pay a premium. That is less likely to happen in 2025, as with more homes available, buyers have a greater choice and are less likely to push beyond their comfort zone.
Mr Manning explained: “For sellers, this means realistic pricing has become crucial. Listing a home too high risks leaving it sitting on the market while other competitively priced properties sell.
“My advice is to listen closely to the guidance of your estate agent, who understands local market conditions and can help set an asking price that achieves the best outcome without deterring potential buyers.”
The positive news is that correctly priced homes are still in strong demand. Properties that reflect their true market value continue to attract viewings, generate offers, and achieve sales within a reasonable timeframe. The key, Mr Manning said, is striking the right balance from the outset.
A bigger choice for buyers
Mr Manning said: “For buyers, the increase in stock levels is welcome. After years of limited options, many now find themselves with a far broader pool of properties to choose from.
“This makes it easier to find a home that ticks more boxes, whether that means the right location, extra space, or desirable features such as a garden or home office.
“While competition remains, it is less intense than in previous years. Buyers can afford to take a little more time in their decision-making and avoid the pressure of rushed offers or bidding wars.
“For many, this creates a more positive and less stressful purchasing experience.”
Homes that stand out
With more properties available, the bar has been raised when it comes to presentation.
Mr Manning explained: “Buyers are naturally drawn to homes that look their best, whether through tasteful décor, practical improvements, or simply being well-maintained and ready to move in.
“Sellers should therefore consider how they can make their property stand out in a more competitive marketplace. Small investments in presentation, such as fresh paint, tidying gardens, or staging key rooms, can make a big difference in attracting attention and securing a faster sale.”
More sustainable market growth
“Perhaps the most encouraging aspect of this shift is that it signals a move towards a healthier, more sustainable housing market. A better balance between supply and demand helps prevent the sharp price inflation we’ve seen over recent years. Instead, house price growth is likely to be steadier and more consistent, which benefits both buyers and sellers in the long run.
“This stability is particularly important for first-time buyers, who have often been priced out in the past. More manageable price growth makes home ownership a more realistic prospect, while sellers can still be confident of strong demand.”
The local property market in 2025 is still healthy, but it is no longer defined by the extremes of the past few years. With more stock available, competition has eased slightly, leading to fairer conditions for both buyers and sellers.
Mark said: “For sellers, the message is clear: realistic pricing and strong presentation are essential. For buyers, there is the welcome prospect of more choice and less pressure. And for the market as a whole, this rebalancing points to a healthier, more sustainable future.”