In this blog:
- Are buyers really back after summer, or is that what agents say every September?
- Asking prices fell in August. Does that mean my Leeds home is worth less?
- Should I wait until after the Budget or until mortgage rates come down?
- How much does my asking price matter in the first two weeks?
- Is it worth fitting a new kitchen before I sell?
- If I want to be moved in before the New Year, when do I need to list?
- What makes Adair Paxton different from other estate agents in north Leeds?
If you have been waiting for the right moment to sell, we should be straight with you. It has arrived, and it does not look like the Septembers you might remember. The buyers who paused over summer are back, and there are more of them than there were in July. They are also walking into the widest choice of homes available at this time of year since 2014.
That changes what you need to do. Listing in September used to carry you a long way on its own. This year it gets you to the starting line alongside everybody else, and what happens next depends on decisions you make in the fortnight before your home goes live.
That is not a reason to wait. It is a reason to be deliberate. Here is what we would tell you if we were sitting in your kitchen.
Why September alone no longer sells your Leeds home
Some of the hesitation that was holding buyers back has cleared. Rightmove recorded a 5% rise in buyer demand in the weeks after Andy Burnham became Prime Minister on 20 July, helped by his confirmation that stamp duty will not change at October’s Budget. If you were holding off to see what the Budget might do to your move, you already have your answer.
What has also changed is how much you are up against. The number of homes for sale is at a twelve year high for the time of year, and the average asking price of a newly listed home fell 2% in August, the largest August drop since 2018. That figure is about how sellers are pricing, not what homes are worth. It tells you the people coming to market alongside you are pricing to compete from day one, and that your buyer will see four or five other homes the same week they see yours.
What your home in Horsforth, Adel or Roundhay is actually worth
The national headlines are dragged down by the south, so they are telling you very little about your own street. Asking prices across northern England are up 1.5% on August last year, while London is down 3.1%. Closer to home, the average Leeds property bought with a mortgage reached £250,000 in May, up 3.8% over twelve months, with semi detached homes up 4.7%.
If you own a semi in Horsforth, Cookridge, Adel, Roundhay or Moortown, that last figure is the one that applies to your home. Your value has not gone backwards. What has changed is how hard you will have to work for the attention of the buyer who wants it.
Your asking price will decide your sale
Almost everything about how your sale goes is settled in your first two weeks. That is when your home is new, when buyers with a saved search see it the day it appears, and when the people who have been looking for months finally get something they have not already rejected. Viewings in that fortnight are what create competing offers, and competing offers are what get you your price.
Price ambitiously and you lose that window. Every quiet week afterwards makes your listing look older to buyers who have already scrolled past it, and the reduction you make in November will not win it back. Buyers read a price drop as confirmation that your first figure was wrong, and they offer accordingly. We have watched a good many sellers accept less in the winter than an accurate September price would have brought them.
So when we give you a market appraisal, it is built on what comparable homes on your streets have achieved in the last two or three months. Not what your neighbour is asking. Not what the market was doing in 2024. If the figure you were hoping for is not the one that will get you sold, we will say so, because the alternative costs you more.
What to do before your home goes live
- Get your photographs taken while the gardens still hold and the light is good. By late October the same house photographs noticeably worse, and your listing lives with those images for months.
- Make sure your listing is written for your buyer. What a family moving to Adel for the schools needs to know is not what a buyer looking at a city centre apartment needs to know.
- Instruct your solicitor now rather than when an offer arrives. It takes weeks out of the process at the far end, when weeks are hardest to find.
One thing worth saying plainly. If you are thinking about a significant improvement before you sell, a new kitchen or a new bathroom, ask us before you commit. It rarely returns what it costs, because every buyer has their own taste and the kitchen you choose is not the one they would have chosen. We would rather tell you that now than watch you spend the money and find out later.
If you want to be moved before the New Year, sell now
A typical purchase takes twelve to twenty two weeks from offer accepted to completion, longer with a chain or a leasehold. Launch in early September, agree a sale in October, and you have a realistic path to being in your next home before or shortly after Christmas. Launch in late October and you are looking at February.
Waiting for borrowing to get cheaper is unlikely to help you either. The base rate has sat at 3.75% since December, three members of the Bank of England committee voted to raise it in July, and average two year fixed mortgage rates are back above 5%. The direction of travel is not currently downwards.
Why sellers across north Leeds choose Adair Paxton
We started as chartered surveyors in 1859 and we still price your home the way surveyors do, from evidence rather than optimism. That is what you will notice at the appraisal, and it is why our sellers tend not to be the ones reducing in November.
It also means we can look at your whole position rather than one transaction. If you are weighing up whether to sell or let, or you own more than one property, sales, lettings, management and professional work all sit under one roof here, so you get a straight answer rather than a referral.
Book a market appraisal
If you are selling this autumn, the conversation worth having is the one before the photographs are taken. We will give you an honest view of what your home should launch at, what is worth doing first, what is not worth doing at all, and a realistic timeline from here.
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