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UK housing market posts busiest May since March 2022

Falling five-year fixed mortgage rates alongside record seller listings are driving a 6% year-on-year increase in May sales agreements.

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Overview

  • Rightmove data shows that May 2025 saw the busiest month for agreed house sales since March 2022, with transactions 6% higher than May 2024.
  • The average five-year fixed mortgage rate has fallen to 4.61% in May 2025 from 6.11% in July 2023, improving borrowing costs for buyers.
  • Heywood in Greater Manchester led regional growth with an 88% surge in agreed sales year-on-year, followed by Pudsey (85%) and Wilmslow (67%).
  • Nine of the top ten sales hotspots recorded average house prices below the national average, underscoring continued buyer focus on affordability.
  • Sellers must navigate decade-high listings and are urged by Rightmove expert Colleen Babcock to set realistic, competitive prices to secure buyers.