The value of properties in UK cities saw impressive growth despite market uncertainty in 2024. Birmingham witnessed an average price rise of 3.7%, Edinburgh 4.9%, and Leeds 6.3%, according to the Office for National Statistics. Most impressive was Newcastle upon Tyne, which saw the average house price jump from £190,000 in 2023 to £207,000, marking an 8.8% increase.
For city-based property owners wishing to sell in highly sought-after areas, 2025 presents a strong opportunity, thanks to a resilient property market and increased buyer activity. Sellers can benefit from steady house price growth and an active sales pipeline. And with stamp duty costs set to rise in April, early-year sales could see heightened buyer demand, making it an opportune time to list a home.
Why Sellers Should Be Confident
Opportunities are presenting themselves as buyers are undoubtedly encouraged by a positive economic outlook as well as access to affordable mortgages. Lower interest rates with anticipated further cuts by the Bank of England, higher wages, and the psychological impact of mortgage rates nearing the 4% threshold are expected to sustain demand. It all provides a favourable environment for sellers.
Manchester is one of those cities feeling the impact. According to figures published by the city’s MHHG estate agents, the value of the market’s sales pipeline has grown by an impressive 30% compared to 12 months ago, as Manchester experienced its highest market activity in four years.
This means that more and more people will be looking to prepare their property for sale. This requires strategic planning. Sellers need to consider the initial financial outlay, including costs like estate agent fees, conveyancing, removal services, and an Energy Performance Certificate (EPC).
Then comes the decision on how to sell the property. For the more traditional route, selecting the right estate agent is crucial. Researching those with experience selling similar properties is advised, as is getting at least three valuations and checking marketing strategies and reviews to find the best fit for specific needs. Traditional estate agents offer the advantage of local market expertise and can handle all aspects of the property sale, including advertising and negotiations. Another option is to sell privately, which can reduce overall costs but add to the burden of administrative, sales, and legal tasks.
However, it is possible to eliminate costly estate agent fees and delays in the marketplace waiting for a potential buyer with cash-buying companies. For example, We Buy Any Home in Manchester offer a cash price within minutes based on details such as location, property type, and sales history. This includes standard terraced, semi-detached, and detached properties, as well as flats and those selling rental properties with current tenants. Typically, funds can be transferred within seven days.
A prime opportunity for city property owners
2025 offers city-based property owners a prime opportunity to sell, driven by steady house price growth, robust buyer demand, and favourable economic conditions. With resilient market activity, particularly in cities like Newcastle, Manchester, and Leeds, sellers can capitalise on strong price increases and a growing sales pipeline. Early-year sales are particularly advantageous due to rising wages, lower interest rates, and the April stamp duty changes, making it an ideal time to list a property.