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Where are we moving to, how much is it costing us and what’s the market like? We take a look at the key property reports and research released in May to provide you with a sales and lettings overview. Let’s start with house prices.
Regular readers will know two sets of figures are released on a recurring basis: the monthly average asking price advertised online and the monthly average sold price. The former is a figure widely reported by Rightmove, and it tends to illustrate seller confidence. In May, there was a noticeable increase.
Sellers confident to ask for more
The portal tracked an average UK asking price that had jumped from £377,000 in April to £379,517 in May. This increase of 0.6% represents new-to-market sellers asking for £2,335 extra compared to last month. The UK’s average asking price is now 1.2% higher than it was last year.
No change for sold prices
Zoopla uses data from HM Land Registry and other sources to comment on house prices at completion. Looking at monthly trends, its latest index showed the UK’s average sold price remained at £268,200 – no change over the last four weeks. Annually, house prices were up 1.6% year on year.
Both portals were on the same page when it came to sales trends. Rightmove reported a 6% increase in sales during May 2025, when compared to last year. The figure is actually the highest it has been for four years.
Zoopla’s analysis almost matched Rightmove’s. It said the number of sales agreed in its last reporting period was 5% higher than a year ago. The figures illustrate a confidence-infused market where movers have taken the stamp duty change of 1st April in their stride.
So we know people are moving but where are they moving to? Survey results published by PropertyReporter revealed we are split between staying local and moving further afield. Of those who have moved in the last 12 months, 51% moved within their existing local authority and 49% went further afield.
Of those moving away, 16% purchased within the same county and 11% moved within the same region but outside their county. Surprisingly, 21% of buyers relocated to a new region or home nation of the UK. Those moving to Cornwall relocated the furthest distance – an average of 159 miles.
Three-bed affordability revealed
Families were the topic of a new report by Zoopla. It looked into the most affordable places in the UK to buy a three-bedroom property, taking into account the ‘property price to earnings’ ratio. Families should head North or West for the very best prospects, with Glenrothes in Scotland and Llanelli in Wales topping the price/earnings table.
In England, the most affordable place was Sutton-in-Ashfield in the East Midlands. Barking & Dagenham was the most affordable family-friendly area in London, while Bootle was the most affordable town in the North West.
Rents for new tenancies almost £1,300
Those not in a position to buy a property will want to know how the rental market is faring. Demand still outstrips supply and as a consequence, rents continue to rise, although the rate at which they are climbing has passed its peak. The latest HomeLet rental index showed the UK’s average rent has increased 0.8%, with the average new tenancy costing £1,298 per month.
Regional rent differences were noted. Those in the South West have been hardest hit by increases, as rents have risen 2.1%. Yorkshire & The Humber (1.5%), Northern Ireland (1.5%), Wales (1.1%), Greater London (1.1%) and Scotland (0.5%) were other stand-out areas where new tenancy costs have increased..
If you would like to know more about your local property market, please get in touch.
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