Pedro Goncalves writes:
The average price of a UK property coming to market has climbed to £379,517 in May, but the seasonal uplift is more subdued than usual, suggesting a market adjusting to increased supply and cautious buyer sentiment.
The average asking price for properties going on sale this month has increased by 0.6% or £2,335, according to Rightmove (RMV.L). While this represents a new high, it is the weakest May increase since 2016.
“It’s another new price record this month, but having seen a May price record for the last five years, it appears to be driven more by seasonal factors given that new buyer demand has slowed,” said Colleen Babcock, a property expert at Rightmove. “The ten-year high choice of homes for sale means that sellers need to be aware of the level of competition they’re facing for the attention of buyers.”
Rightmove’s figures show that while demand in March surged as buyers sought to complete transactions ahead of April’s stamp duty changes in England, activity slowed the following month. Buyer interest fell 4% in April compared to the same period in 2024 — the first year-on-year decline recorded in 2025.