Key takeaways:
- May 2025 was the busiest month for sales agreed since March 2022
- May is typically a busy month for sales agreed being in the middle of the Spring selling season – this was the busiest May since 2021
- Affordability and value are influencing sales trends, with nine out of the top 10 sales hotspots under the average house price
Just a few weeks ago, data from our monthly House Price Index pointed to a more settled market, following the rush to complete purchases before stamp duty changes kicked in at the end of March. Buyer demand had dipped by 4% in April, and annual price growth saw its smallest May increase since 2016.
But fast forward to May 2025, and we’ve seen the highest number of agreed property sales in a single month since March 2022, and the busiest May since 2021. This indicates that many home-movers are continuing with their plans, even after the increases some buyers found themselves faced with from April. Read more about stamp duty and how much you might pay when buying a home.
Sales agreed across Great Britain are currently 6% higher than a year ago, but the local figures vary. Wales is seeing the strongest growth, with sales agreed up 15% on the same period last year, while London has seen the smallest increase, at +1%.
Where are the sales agreed hotspots?
Take a look at the areas that have seen the biggest increase is sales agreed since this time in 2024. Nine of the ten top-performing sales hotspots outside London have average asking prices below the national average, indicating that price-sensitive buyers are focusing on areas where their budgets stretch further.
Areas in Great Britain (outside London) with biggest uplift in sales agreed
| Location | Sales agreed YOY | Average asking price |
|---|---|---|
| Heywood, Greater Manchester | +88% | £205,221 |
| Pudsey, West Yorkshire | +85% | £264,920 |
| Wilmslow, Cheshire | +66% | £569,694 |
| Irvine, Ayrshire | +63% | £131,659 |
| Rushden, Northamptonshire | +61% | £273,572 |
| Brighouse, West Yorkshire | +58% | £237,822 |
| Newton Mearns, Glasgow | +55% | £348,922 |
| St. Annes, Lancashire | +52% | £274,023 |
| Lichfield, Staffordshire | +51% | £372,494 |
| Brislington, Bristol | +51% | £359,475 |
Areas in London with biggest uplift in sales agreed
| Location | Sales agreed YOY | Average asking price |
|---|---|---|
| Barnet, North London | +68% | £735,218 |
| Kingston Upon Thames, Surrey | +52% | £781,977 |
| Tottenham, North London | +51% | £463,090 |
| Mitcham, Greater London | +49% | £435,418 |
| Hampstead, North West London | +32% | £1,367,757 |
| Beckenham, London | +32% | £625,018 |
| Hayes, Middlesex | +30% | £433,239 |
| Becontree, Dagenham, London | +29% | £371,607 |
| Bow, East London | +25% | £500,954 |
| Enfield, Greater London | +25% | £456,014 |
What do the experts think?
Our property expert, Colleen Babcock, says: “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.”
What could happen next?
May’s strong sales figures suggest the housing market is finding its rhythm again. The stamp duty deadline earlier in the year created a short burst of activity, followed by a brief pause – things now seem to be settling into a more consistent pace as buyers and sellers adjust to current conditions.
If you’re thinking of selling your home, it’s worth keeping in mind that there’s more choice out there for buyers than we’ve seen in some time. That means getting the price right from the start can make a real difference. Colleen adds: “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.”
Thinking of moving soon? Take a look at our home-moving toolkit to get started.
The header image for this article was provided courtesy of Beresfords, Country and Village.
READ MORE: House prices hit new record in May
