Property asking prices have risen nationally by 0.6%, or, £2,335, this month meaning the average house now costs a record £379,517, but a surge of homes for sale has also made this the lowest price increase since 2016, according to Rightmove.
The property search giant’s data also reveals that Yorkshire and the Humber is outperforming the national market with a monthly increase of 0.8%, meaning the average home in the region now costs £258,231, which is a 1.6% increase on this time last year.
Nationally, Rightmove says the number of new properties coming onto the market for sale is now 14% ahead of this time last year and the number of sales being agreed in the last month is 5% higher than the same period in 2024.
Yorkshire’s largest independent estate agent, Dacre, Son & Hartley’s own figures show that between the start of January and the end of April, the company saw an 8.7% increase in homes for sale and agreed 2.9% more sales than during the first four months of 2024.
Patrick McCutcheon, head of residential at Dacre, Son & Hartley
Patrick McCutcheon, head of residential at Dacre, Son & Hartley, which has 18 offices in West and North Yorkshire, including rural specialists Lister Haigh, said: “Spring is always a busy time for the housing market, but this year has been unusual because so far 2025 has delivered a two-tier market. The middle and first-time buyer sectors had a burst of adrenalin brought on by the deadline for stamp duty changes and the end of March saw the conclusion of a vast number of deals.
“The upper reaches of the market have been more subdued, as buyers have contemplated the effect of tax changes generally and on business. However, with the spring market here, and Easter well behind us, we are starting to see some cautious recovery driven by traditional pressures to move and the latest cut in base rates and mortgage costs.
“Crucially though, buyers currently have much more choice than at almost any point in the last decade, so sellers must price sensibly, otherwise they won’t secure a sale in this market.”
Colleen Babcock, property expert at Rightmove, said: “It’s another new price record this month, but having seen a May price record for the last five years, it appears to be driven more by seasonal factors given that new buyer demand has slowed. 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. 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. 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.”
“Despite April’s dip in new buyer demand, there are early signs of a bounce-back in May. Mortgage interest rates are lower than they were at this time last year, and the recent bank rate cut also gives us some optimism for further mortgage rate drops that will enable more to buy. While we’re not expecting drastic reductions, any lowering of rates will be a boost to buyer sentiment and affordability. With a high number of sellers and a small dip in buyer demand, it’s worth reminding people out there thinking of coming to market that they need to work hard to attract buyer attention. Working with your estate agent to understand your local market and coming to market with a tempting price will give you the best chance of standing out.”
Dacre, Son & Hartley was founded more than 200 years ago and is Yorkshire’s largest independent estate agent with 18 offices across North and West Yorkshire.
