Busiest May for sales agreed since 2021

• The latest insights from Rightmove show that it was the busiest May for agreed property sales since 2021, and the busiest out of any month since March 2022
• May is typically a busy month in the year for agreed sales, but this year’s figure highlights the improved market conditions, as home-movers carry on following the stamp duty increase:
  • The average five-year fixed mortgage rate is now 4.61%, compared with 6.11% at the peak in July 2023
• Across Great Britain, the number of sales agreed is now 6% ahead of the same period last year, however the figure is much higher in some areas than others:
  • In Wales, the number of sales agreed is 15% higher than at this time last year, compared with London where the figure is just 1% higher
  • May’s hotspot is Heywood in Manchester, with the number of buyers agreeing a deal to purchase a home there nearly double (+88%) the level of this time last year
  • Nine out of the top ten sales hotspots outside of London in May have an average price tag below the national average, indicating affordability and value are influencing sales trends
  • New data from the UK’s largest property platform Rightmove, reveals that we’ve seen the busiest May for agreed property sales since 2021.

May 2025 also saw the largest number of agreed property sales out of any month since March 2022.

Due to the seasonality of the property market, May is typically a busy point in the calendar year for agreed sales as a result of new seller and buyer activity from earlier in the year.

However, this year’s figure reflects an improvement in housing market conditions. The average five-year fixed mortgage rate is now 4.61%, compared with 6.11% at the peak in July 2023.

Across Great Britain, the number of sales agreed is now 6% ahead of the same period last year. However, this trend is more prominent in some areas than others.

In Wales, the number of sales being agreed is 15% higher than at this time last year, whereas in London the figure is just 1% higher.

May’s sales hotspot is Heywood in Manchester, with the number of buyers agreeing a deal to purchase a home there nearly double (+88%) the level of this time last year.

Second on the list of hotspots is Pudsey in West Yorkshire (+85%) and third on the list is Wilmslow in Cheshire (+66%).

It appears that affordability and value are influencing sales trends based on May’s hotspots. While mortgage rates have come down significantly from the peak, they are only slightly down from this time last year.

Nine out of the top ten sales hotspots in May have an average price tag below the current national average.

Colleen Babcock, property expert at Rightmove comments: “This month’s hotspots reflect broader market trends driven by affordability and attractive property prices.

“With mortgage rates higher than the lows we saw post financial crisis, and affordability stretched, many buyers are continuing to look for value, which is likely reflected in the lower than average prices of some of the current hotspots. With the overall number of sellers continuing to run at a decade-high, sellers need to also be mindful of the competition they might face from other sellers trying to secure a buyer in their area.

“Working with a local agent to price realistically and competitively for that market, rather than pricing too high, is one way to increase the likelihood of a successful sale.”

Areas in Great Britain (outside London) with biggest uplift in sales agreed

Areas in London with biggest uplift in sales agreed

ENDS

About Rightmove

• Rightmove has the UK’s largest selection of properties for sale and to rent, adds more listings than anyone else, and over 80% of all time spent on property portals is on Rightmove.
• Rightmove’s vision is to give everyone the belief that they can make their move by giving people the best place to turn and return to for access to tools and expertise to make it happen.
• People can search Rightmove for residential resale, new homes, rentals, commercial property and overseas properties and use tools and information including getting a Mortgage in Principle, checking local sold prices, property valuations, market trends, maps and schools.
• Customers include the following key groups: estate agents, lettings agents, new homes developers, rental operators, commercial property operators and overseas property agents and financial services operators
• Using the UK’s largest housing datasets, we issue a number of regular reports to track housing market indicators: our monthly House Price Index (established 2002), quarterly Rental Trends Tracker (established 2015), weekly Mortgage Rates Tracker (established 2023) and quarterly Commercial Insights Tracker (established 2024). Historical data is available on request
• Founded in 2000, Rightmove listed on the London Stock Exchange in 2006 and is a member of the FTSE 100 index.
• For more information, please visit www.rightmove.co.uk/claims