"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"
- Colleen Babcock - Rightmove
New data from Rightmove has revealed that May 2025 recorded the busiest month for agreed property sales since 2021. It also marked the highest number of agreed sales in any month since March 2022.
May is typically a busy time for agreed sales due to seasonal patterns, as activity from buyers and sellers earlier in the year comes to fruition. However, this year’s figures suggest an overall improvement in housing market conditions. The average five-year fixed mortgage rate currently stands at 4.61%, down from a peak of 6.11% in July 2023.
Across Great Britain, sales agreed are 6% higher compared with the same period last year. This growth varies by region: Wales is experiencing a 15% increase, while London has seen just a 1% rise.
Heywood in Manchester topped May’s sales hotspots, with the number of buyers agreeing deals nearly doubling, an 88% increase compared to last year. Pudsey in West Yorkshire followed with an 85% rise, while Wilmslow in Cheshire ranked third at 66%.
Affordability and value appear to be key factors influencing these trends. Although mortgage rates have dropped significantly since their peak, they remain only slightly lower than last year’s levels.
Nine of the top ten sales hotspots in May feature average prices below the national average.
“This month’s hotspots reflect broader market trends driven by affordability and attractive property prices," said Colleen Babcock, property expert at Rightmove. "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.
She added, "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.”
Nathan Emerson, CEO of Propertymark, comments, “With house prices adjusting, mortgage products improving, and overall confidence from buyers and sellers on the up, this is evidently creating the perfect combination and propelling the housing market forward.
“Alongside this, the country’s increasing population and rise in the number of people looking to buy a home are playing a key part in this growing trend.
“Despite rises in Stamp Duty commencing across England and Northern Ireland from April, those serious about moving home have not let this dampen their home moving plans. As we move into summer, which is a traditionally busier time of the year, we expect to see more properties on the market, ultimately providing movers with more choice, which can lead to easier negotiations.”
