The UK property market has moved into May with steady activity across sales. The spring market is well under way, but conditions remain more balanced than in the fast-moving periods of recent years. Buyers have more choice and sellers are seeing active demand where pricing is realistic.
Buying: More Choice and Steady Activity
May has brought a further seasonal lift in asking prices. The latest Rightmove House Price Index shows the average new seller asking price rose by 1.2% in May to £378,304. This was slightly above the typical 10-year May average rise of 1.0%, although asking prices remain 0.3% lower than a year ago. Rightmove also reports that agreed sales are 4% below last year, but 2% higher than in 2024, suggesting a market that is active but still price-sensitive.
Mortgage activity is also holding up. Latest Bank of England data shows net mortgage approvals for house purchases increased to 63,500 in March, up from 62,700 in February and slightly above the previous six-month average. This points to improving confidence, although buyers are still watching affordability closely.
For mortgage advice we recommend CBM Financial an independent mortgage broker, who is well respected by mainstream institutions, private banks and other specialist providers.
More homes on the market means more opportunity to compare carefully. Get your mortgage agreement in principle sorted early so you can move quickly when the right property appears.
For sellers, May remains one of the strongest months of the year to launch a property onto the market. Gardens are in bloom, natural light is better for photography and viewings, and buyers are generally more active ahead of the summer holidays. However, with more homes available, buyers are taking extra time to compare properties.
Nationwide’s latest House Price Index reported that annual house price growth increased to 3.0% in April, from 2.2% in March, with prices rising 0.4% month-on-month after seasonal adjustment. This supports the view that the market remains resilient, although buyers are still very value-conscious.
Official ONS data also points to modest but positive growth, with average UK house prices increasing by 1.2% annually to £268,000 in the 12 months to February 2026.
One trend becoming increasingly noticeable is the importance buyers are placing on running costs and energy efficiency. Rising utility bills over recent years mean buyers are asking more questions about EPC ratings, insulation, heating systems and overall running costs before making offers. Homes with modern boilers, double glazing and strong EPC ratings are often attracting stronger interest because buyers are thinking beyond the purchase price and considering monthly affordability too.
Outside space is also continuing to influence decision-making. Even modest gardens, home office space or multifunctional rooms are still proving popular, particularly among buyers looking for flexibility as hybrid working remains common in many sectors.
Before listing, look at your property through a buyer’s eyes. Small improvements such as decluttering, repainting tired rooms, improving kerb appeal or servicing the boiler can make a noticeable difference without major expense. If you have a good EPC rating or recent energy-efficiency upgrades, make sure they are highlighted.
Market Outlook
May 2026 shows a market that is active, resilient and more balanced. Rightmove’s asking price data shows seasonal confidence, Nationwide reports stronger annual growth, and Bank of England mortgage approvals suggest buyers are still moving. At the same time, ONS figures show official house price growth remains modest, while rent growth is easing from previous highs.
This mix creates a more measured market. Buyers have options and sellers can still achieve good results with the right strategy.
The UK property market in May 2026 is not standing still. It is moving, but in a steadier and more balanced way than in recent years. Preparation remains the common thread. Buyers need finance in place and sellers need realistic pricing.
Shinerocks is here to support your next move in Purley, Croydon & Greater London. Call 020 8660 2010 or email enquiries@shinerocks.co.uk to speak with our team.
Note: The information in this article is based on the most recent data available as of February / March / April 2026 and may change. Always seek professional advice for specific circumstances.
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