Story perspectives

May Property Sales Surge 6% Amid Rising Competition

6/5/2025

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Summary

Story summary

May 2023 recorded the highest property sales in Great Britain since 2021, rising 6% year-on-year.
Heywood, Greater Manchester, experienced an impressive 88% increase in transactions, with Pudsey and Wilmslow at 85% and 66%, respectively.
Most top sales hotspots had average prices below the national average, highlighting buyer interest in affordability.
Experts indicate that rising mortgage rates and increased seller competition are shaping market trends.

History

Historical Context

In May 2023, Great Britain's property market saw a significant surge, reminiscent of the pre-2008 housing boom. The current rise in sales, driven by affordability and competition, echoes past trends where rapid price increases led to eventual market corrections, highlighting the cyclical nature of real estate dynamics.

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Story summary

May 2023 recorded the highest property sales in Great Britain since 2021, rising 6% year-on-year.
Heywood, Greater Manchester, experienced an impressive 88% increase in transactions, with Pudsey and Wilmslow at 85% and 66%, respectively.
Most top sales hotspots had average prices below the national average, highlighting buyer interest in affordability.
Experts indicate that rising mortgage rates and increased seller competition are shaping market trends.

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