In May 2025, the UK’s housing market reached a new pinnacle, with the average asking price for homes climbing to an unprecedented £379,517. This marks a £2,335 (0.6%) increase from April, continuing a five-year trend of record-setting Mays. Despite this growth, the rise is the most modest for May since 2016, attributed to the highest number of homes for sale in a decade, which has tempered price acceleration.
The market’s buoyancy is underpinned by a 3% year-on-year increase in buyer demand, bolstered by the Bank of England’s recent interest rate cut to 4.25% and more accessible mortgage options. However, the surge in available properties has intensified competition among sellers, necessitating strategic pricing to attract buyers.
The following table outlines the average house prices across various UK regions as of May 2025:
| Region | Average Price | Annual Change |
|---|---|---|
| North East | £176,464 | +5.2% |
| North West | £237,681 | +4.5% |
| Yorkshire & Humber | £213,459 | +4.6% |
| West Midlands | £258,617 | +4.0% |
| East Midlands | £242,581 | +3.4% |
| Wales | £224,875 | +3.6% |
| South West | £305,170 | +3.9% |
| South East | £387,984 | +2.9% |
| East of England | £334,232 | +2.7% |
| Greater London | £540,861 | +2.7% |
| Scotland | £207,909 | +2.4% |
| Northern Ireland | £205,035 | +5.9% |
| United Kingdom (Avg.) | £294,818 | +3.7% |
Notably, the North East experienced the highest annual growth in England at 5.2%, with average prices reaching £176,464. Northern Ireland led the UK with a 5.9% increase, bringing its average to £205,035. In contrast, Greater London, despite having the highest average price at £540,861, saw a more modest annual growth of 2.7%.
The current landscape presents a favourable environment for sellers, particularly in regions with significant price growth. However, the increased inventory means that competitive pricing and property presentation are more crucial than ever to attract discerning buyers.
If you’re contemplating selling your property amidst these record-breaking market conditions, Spartan Property Estate Agents offer tailored services to meet your needs. From our complimentary listing option to our comprehensive Traditional service, our experienced team is dedicated to helping you navigate the market effectively. Contact us today for a free valuation and expert advice on maximising your property’s potential.