May 2025 | Rightmove House Price Index
As we move through May, the property market continues to show its strength with a new record average asking price – even in the wake of the recent stamp duty increase. If you’re thinking about making a move, the latest data from Rightmove’s House Price Index suggests it’s still a very active and opportunity-rich time.
As we head through May, the property market continues to perform, even if things are feeling a little more balanced. Despite a cooler late Spring than usual, new asking prices have reached a fresh record, and activity remains solid for both buyers and sellers. If you're thinking about moving, the latest update from Rightmove’s House Price Index shows there are still strong opportunities in the current market.
Record Asking Prices – But Sellers Need to Stay Smart
This month sees asking prices rise by 0.6% (+£2,335) to hit a new record of £379,517. It’s another high for the UK market, but worth noting that this is the smallest May price increase since 2016.
Why the slower growth? Simply put, there are more homes available. In fact, the number of homes for sale is at its highest level in a decade, giving buyers more choice and naturally limiting how far prices can climb.
If you’re selling, it’s important to stay realistic. With more competition out there, pricing your home correctly from day one is crucial. A local Avocado expert can help make sure your property gets the attention it deserves without needing a price cut later on.
Post-Stamp Duty Dip, But Buyer Interest Persists
The traditionally strong late Spring market is more subdued this year, following a busy first quarter and April’s stamp duty increase. As expected, buyer demand took a hit: in April, it was 4% lower than the same month in 2024.
That said, there’s still plenty of confidence out there. Year-to-date demand is up 3% compared to last year, and there are already early signs of a bounce-back in May. So while there was a pause, it’s not a full stop.
Even more encouragingly, the number of sales agreed in the past month is 5% higher than this time last year. For sellers, this shows that the right property, at the right price, is still drawing strong interest.
More Sellers, More Stock – Timing Matters
If it feels like the market is busier, that’s because it is. The number of new properties coming to market is now 14% higher than this time last year. That’s great news for buyers – but for sellers, it adds to the need for strategic pricing and great marketing.
As seller activity now outpaces buyer demand, being too ambitious with your price could mean missing out on early momentum. Lean on expert advice and stay competitive.
Falling Mortgage Rates Could Boost Buyer Confidence
There’s also good news on the finance front. The latest Bank Rate cut is already helping to improve affordability. According to Rightmove’s mortgage tracker, the lowest available two-year fixed rate is now 3.72%, compared to 4.75% a year ago.
If rates continue to ease, we could see even more buyers returning to the market later this year – especially those who had paused due to affordability concerns.
What This Means for You
May’s market might not have the usual Spring heat, but there’s no shortage of opportunity. With prices holding, more homes available, and signs of a bounce-back in buyer activity, now could be the right time to make your move.
All the information in this update comes from Rightmove’s House Price Index. Click here to read the full report.
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