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Wakefield Q3 Market Update 🗺️📍
👋 For those interested in the Wakefield property market — this video’s for you.
Let’s dive into what’s happened over the last three months. There’s plenty of noise out there… but the data paints a clearer picture.
🏡 Supply & New Properties for Sale
Homes for sale in Wakefield currently sits at just over 2,500, down 2% on this time last year.
That’s still above the six-year average — so buyers have plenty of choice, and sellers need to be realistic and competitive from a pricing and presentation perspective.
New properties coming to market are down 9% year-on-year and a touch lower than Q2 — a normal seasonal shift as we roll from spring into autumn. The upside? A well-supplied market, but it’s not flooded.
Let’s talk prices…
Average asking prices have nudged down to £278,344 (about -0.9% year-on-year). That’s a gentle realignment rather than a slide or any other wording the headlines might try to leverage — it appears sellers are responding to where demand really is to generate the interest levels in their home.
Here’s the interesting bit: price per sq ft on new properties is up 4.4% to £261. In plain English? Sellers are expecting buyers to pay up for quality and efficiency — good layouts, good finish, good location. We’ll soon find out if buyers are playing ball with this.
Zooming out, since 2020 asking prices are still up a fantastic 22% overall showing steady long-term growth.
Remember: asking is asking. Buyers want value for money — the pricing has to stack up.
📈 Sales & What’s Getting Agreed
The number of sales agreed are basically flat year-on-year at 1,172 (-0.6%), and slightly above the six-year Q3 average (+1.4%). That’s quiet resilience in a well-supplied market.
The average agreed sale price is around £247,513, which is up 6.2% on last year — and the agreed £/sq ft has climbed to £249 (+6.4%). So while some asking prices have softened, what actually sells is selling for more than a year ago suggesting buyers are keeping up and playing ball indeed.
🔧 Price Changes
The number of price changes are down ~3% year-on-year, but still up versus the long-term average. Which basically means many sellers still start too high, then adjust. The winners price smart from day one and move on with life sooner and with extra cash in their pocket and more chance of a successful sale, and there is tons of data to back this up, please keep this in mind when it comes to that first impression of your home coming to market. In property, often if something such as high price sounds too good to be true, it probably is. Make sure you’re seeing the evidence and not just relying on someone’s opinion.
📉 Withdrawals & Fall-Throughs
Good news on the Withdrawals front. This is where the seller takes their home off the market. Withdrawals are down ~6% (good news) — more committed sellers seeing sales through, even with firmer buyer expectations. Still a bit higher than historic norms, but heading the right way.
Fall-throughs whereby a buyer/ seller has backed out and back on the market are steady year-on-year between 250-300. With over 1,100 sales agreed in Wakefield, that’s about a 77% success rate and around bang on average. That said, this figure may and possibly should concern you if you are coming to market soon as there’s still a chunk of risk to try and mitigate. Make sure you ask your agent what their rate of successful exchanges are and how they will put provisions in place to protect you throughout. If you want to reduce risk further, reach out to us about deposit and reservation agreements — which are proven to cut fall-throughs dramatically.
🧭 What It All Means
The Wakefield Property Market right now is balanced: plenty of homes to choose from, sensible price discovery, and strong evidence that quality sells.
Buyers: You’ve got choice and negotiating power, but the best homes still attract competition. Make sure you have your finances ready, focus on well-presented properties where the £/sq ft makes sense, and move decisively when it stacks up.
Sellers: Price with today’s comparables, not yesterday’s headlines. Nail presentation and accuracy — that’s how you protect your sale price and your timeline from the offf!
💬 Closing Thoughts
Overall, Q3 in Wakefield is a story of mature stability — not fireworks, but solid progress where it counts.
If you want the full breakdown for your area, property type, or a pricing read on your home, we’re happy to share it.
Until next time — I’m Stephen from RedRoots Property, and that’s your Q3 2025 Wakefield Market Update.
