Figures show May rise in property sales
June 12, 2025 by Heidi
House Prices
Property Market
The number of residential property sales that were agreed during May was the highest for that month in four years, according to new figures.
These figures were issued by the property website Rightmove, and they show that last month produced the highest number of agreed residential sales since May of 2021.
The number of sales recorded during May was also the highest for any single month since March of 2022. This will come as welcome news for everyone within the industry, as most were expecting a drop in sales numbers after the stamp duty deadline passed.
Instead of the anticipated decline, it appears as if the market has recovered more or less immediately. One possible reason that has been highlighted by Rightmove is improving rates of mortgage affordability. The average rate for a fixed five-year loan is currently 4.61%. By way of comparison, back in July of 2023 it was 6.11%. That month marked the high-water mark.
The property sales situation is also encouraging when looked at on an annual basis. Compared with this time last year, agreed sales numbers are up by 6%. In some parts of the country – for example, Manchester and Wales – the increase is much greater than that.
Speaking to Mortgage Strategy, Colleen Babcock from Rightmove stated that:
“This month’s hotspots reflect broader market trends driven by affordability and attractive property prices.”
Mortgage advisors who have done the CeMAP course will be delighted by these figures, as they mean that work and income levels remain high.
Written by
Heidi
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