Rightmove data shows UK asking prices up in May but below 2025

Asking prices for homes in Britain rose more than expected in May, signaling resilient market activity despite broader economic pressures. The average price of a property coming to market increased by 1.2%, or £4,333, reaching £378,304, according to data from property website Rightmove. This monthly rise was stronger than the typical 1.0% increase seen in May in recent years. However, prices remain 0.3% lower than they were in May 2025.

The market is characterized by a significant North-South divide. While asking prices are rising annually in the North East (2.7%) and North West (2.6%), they are falling in London (-2.4%) and the South East (-1.6%). This uneven performance is unfolding as buyer choice hits an 11-year high for this time of year, with the number of homes for sale at its highest level since 2015.

Property expert Colleen Babcock noted that activity is holding steady despite cost-of-living pressures and global uncertainty. "The number of sales agreed is holding up well," she said. However, she emphasized that realistic initial pricing is crucial, as buyer choice gives purchasers more leverage. Rightmove reported that 32% of existing listings have seen a price...