UK asking prices show bigger-than-usual rise in May, Rightmove says

LONDON - Asking prices for British homes in May rose by more than usual for the time of year, despite uncertainty about the Iran war, and a key mortgage rate eased back, property website Rightmove said on Monday.

Property prices rose by a monthly 1.2%, above the 1.0% increase usually seen in May, Rightmove said. Prices rose by 0.8% in April from March.

"What's notable this month is that activity in the market is staying fairly steady, even with ongoing cost-of-living pressures and wider global uncertainty," Colleen Babcock, property expert at Rightmove, said.

The Rightmove survey also showed:

• Asking prices were 0.3% lower than a year earlier

• The average two-year fixed mortgage interest rate fell to 5.18% on May 11 from 5.42% a month earlier

• Price falls in annual terms in the first-time buyer sector eased affordability problems in London and the southeast of England

• The number of homes for sale held at an 11-year high

• Sales agreed were 4% below their level a year earlier and 2% higher compared with the same period in 2024

(Reporting by Suban AbdullaEditing by William Schomberg)

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This story was originally published May 17, 2026 at 6:22 PM.