1 in 8.4 Leeds Homeowners Cut Their Asking Price Since 1st Jan 2025

As the Leeds property market shifts and grows, sellers who've been on the market a while often face a tricky question: when to tweak the asking price—and by how much—to spark new interest.

With the number of homes for sale in Leeds’ LS1 through to LS12 postcodes jumping from 1,510 in March 2022 to 2,071 by March 2025, the playing field has become more crowded. That means smart, strategic pricing is now more important than ever if you want to stand out and get sold.

Cracking the Code: Price Bands on the Property Portals

One of the easiest ways to get more eyeballs on your home is to work with—not against—the price filters buyers use. Portals like Rightmove, Zoopla, and OnTheMarket group listings into predefined price bands, which buyers often use to narrow their searches.

Listing at a ‘round number’ like £400,000 instead of £399,950 can double your visibility. Why? Because it puts you in both the £375k–£400k and £400k–£425k brackets—meaning more people see your home, and more viewings follow.

The Power of the Price Drop

Thinking about lowering your price? Timing and the amount matter. On Rightmove and OnTheMarket, your home won’t trigger new email alerts unless the price is reduced by at least 2%. On Zoopla, you’ll need to cut by 3% to reappear in front of active buyers.

In a crowded market, this small tweak can make a big difference—getting your home back in front of fresh eyes, and back on the radar of buyers ready to move.

Leeds’ Property Market: What’s Really Happening with Asking Prices?

Lately, a number of local movers have told me they’ve noticed more properties dropping their prices compared to a couple of years ago—and they’re not wrong.

As mentioned earlier, the number of homes for sale in Leeds has grown significantly in recent years. And with more stock on the market, it’s no surprise that price reductions are on the up too.

Back in 2022, there were an average of 113 price reductions each month across Leeds. Fast forward to today, and that figure more than doubled to 238 per month.

So, despite the increase in volume in price reductions, the proportion of homes seeing price drops has remained fairly steady over time.

In fact, over the last five years and 3 months, around 1 in every 11.14 Leeds homes - 8.98%- have reduced their asking price each month.

So yes, more reductions are happening—but that’s largely because there are simply more Leeds homes on the market. The underlying pattern? It’s business as usual—just with more competition.

This trend underscores the importance of setting a realistic price from the outset to stand out in a crowded market.

• An average 6.4% of the 1,530 properties typically for sale each month in Leeds during 2020 reduced their asking prices.

• An average 6.6% of the 1,564 properties typically for sale each month in Leeds during 2021 reduced their asking prices.

• An average 7.4% of the 1,489 properties typically for sale each month in Leeds during 2022 reduced their asking prices.

• An average 10.8% of the 1,938 properties typically for sale each month in Leeds during 2023 reduced their asking prices.

• An average 11.9% of the 2,011 properties typically for sale each month in Leeds during 2024 reduced their asking prices.

• An average 11.9% of the 1,998 properties typically for sale each month in Leeds Q1 2025, reduced their asking prices.

Getting Your Price Right in Leeds

When it comes to selling your Leeds home, pricing it correctly from the start can make all the difference. Homes launched at an inflated price often sit on the market, eventually needing bigger price cuts to reignite interest. On the flip side, properties priced sensibly from day one tend to attract more viewings and offers—quickly and with fewer compromises.

If you’re tempted to ‘test the market’ with a high figure, be ready to pivot fast. Dropping the price within the first 2 to 4 weeks can keep your listing fresh and competitive. Wait 2 to 4 months, and you risk losing serious momentum.

Six Signs It Might Be Time to Review Your Asking Price

Hardly Any Viewings

If the phone’s not ringing, check your photos, description, and how your listing compares to similar homes. If everything looks sharp but viewings are still slow, pricing could be the issue.

Plenty of Viewings, No Offers

The average Leeds home takes 8 to 10 viewings to generate an offer. If you’re hitting that mark—or well past it—but offers aren’t materialising, the price might be scaring buyers off. Many won’t offer low for fear of causing offence, so consider adjusting your price closer to your bottom line to make it more inviting.

Only Lowball Offers

In a buyer’s market—or if your Leeds home needs work—expect cheeky offers. But if low offers are consistent, it could reflect your Leeds home’s perceived value. Remember: your home is only worth what someone is willing to pay for it—not what you or your agent hope it's worth.

A Crowded Market

Got a 1-bed Leeds flat? Check how many similar properties are also listed—and which ones are ‘sold STC’. Those sold homes give the best clues about pricing that works. Be honest with yourself, and even better, ask your friends to compare your property with others. Their fresh eyes might spot something you’ve missed.

Seasonal Slowdowns

The Leeds market ebbs and flows. Listing in the peak period of spring needs a different strategy to quieter months like July, November or December. Stay flexible.

Viewer Feedback

If viewers keep hinting—or outright saying—that the price feels high, take it seriously. Consistent feedback like that is a big red flag.