Wakefield Property Market Update
If you’re following the Wakefield property market, November has been a really interesting month — one that shows just how much the market is recalibrating rather than retreating.
🏡 Supply & homes for sale
Right now, there are around 2,360 homes for sale across Wakefield.
That’s actually 10% fewer than this time last year, which is a big shift.
To put that into context, we’ve gone from a market that felt crowded in 2023 and early 2024 to one that’s quietly tightened up again. Fewer homes for sale means less competition for sellers, and that does support prices rising.
New properties coming to market also dropped sharply.
Only 469 homes launched in November, down 22% year-on-year.
That tells me a lot of sellers are either:
• Waiting for spring,
• Or deciding that moving right now just doesn’t stack up with mortgage rates and moving costs.
💷 Prices: steady and still moving forward
Now, onto prices — and this is where Wakefield continues to show real resilience.
The average asking price is now £246,000, up around 3% on last year.
Interestingly and the more important number is price per square foot, which is up 8% year-on-year.
That’s genuine value growth.
It tells us buyers are still prepared to pay more for good space, good homes, in the right locations.
Even at sale agreed stage, prices are holding up.
Homes are agreeing at around £229,600, slightly up on last year, with only a modest gap between asking and achieved prices.
In short, sellers and agents are bing more realistic in their expectations.
📉 Sales activity: quieter, but nothing is broken as such
We have seen change is in transaction volumes.
November saw 298 sales agreed, which is down a staggering 28% on last year and well below October’s levels.
That’s the seasonal slowdown kicking in, combined with affordability pressures and the budget showing those media leaks did not do home sellers any favours.
But here’s the important bit:
That number is still much stronger than late 2022, when the market genuinely felt like it had stalled.
So this isn’t fear or collapse — it’s relative caution likely due to the wider issues at play.
🔧 Market friction
A few other signals worth noting:
• Price changes are down, meaning sellers are pricing a bit better from day one and requiring less reductions.
• Withdrawals are down, which suggests committed sellers are sticking with it and showing motivation levels remaining high throughout the process.
• Fall-throughs sit around 25%, which is normal, but still something buyers and sellers need to plan around carefully
🧭 What this means
For sellers:
Less competition is good news, but buyers are selective. Pricing, presentation, and strategy matter more than ever. The best homes still sell — the rest will be made to wait and without adapting may be waiting years and not just months.
For buyers
Choice has tightened, but there’s no panic market. If you’re prepared, informed, and decisive when the right home appears, there are still good opportunities across Wakefield.
💬 Closing Thoughts
Overall, November shows a Wakefield market that’s cooler, tighter, and more grown-up than the last few years.
No frenzy.
No crash.
Just a market finding its level again.
If you want a breakdown for your specific village area — whether that’s Sandal, Horbury, Pontefract, or the villages — or a realistic pricing view on your own home, our Partner Agent Rachel Smith is always happy to help.
