UK property is becoming a buyer’s market: Rightmove

The latest data from property platform Rightmove shows that the UK is currently entering a buyer’s market.

Rightmove’s House Price Index for May 2025 shows that while new seller asking prices rose by 0.6% (+£2,335) this month to a record high of £379,517, this increase is the lowest for this month since 2016, with a decade-high number of homes available for sale.

“This month’s price increase being the lowest in May for nine years is a sign of a market that favours buyers and is more subdued than usual,” said Rightmove property expert Colleen Babcock.

This time of year is traditionally busy for the UK property market, but growth has been markedly subdued after a busy start to the year, with new buyer demand slowing. However, the number of new properties coming onto the market for sale is now 14% ahead of this time last year.

“The ten-year high choice of homes for sale means that sellers need to be aware of the level of competition they’re facing for the attention of buyers, and the prices that are being advertised in their location,” Babcock said.

“In the current market, buyers may well have several similar homes to choose from in their area, and a home which appears over-priced compared to the competition may not get a second look.”

An uptick in buyer demand during the beginning of May could also indicate that buyers who are in the market are taking advantage of the favourable conditions and wide choice available to close deals quickly.

“Compelling opportunity to buy”

Polly Ogden Duffy, Managing Director at John D Wood & Co, noted that the increase in supply relative to interested buyers makes conditions broadly favourable for buyers.

“Nationally there is an increase in property supply unmatched by an increase in number of buyers. Sensible pricing will be key to attracting committed, proceedable buyers in today’s market.”

“That said, there is a compelling opportunity to buy and either upsize or get onto the property ladder.”

“The breadth of choice, softer competition, an interest rate drop, and Easter firmly behind us, may offer a clearer runway to secure a home this summer,” she said.

Duffy also noted that in London, some sellers and buyers are pausing temporarily due to the impact of political and economic headwinds.

Below are the latest price and activity trends from the Rightmove House Price Index for May 2025.