May sales hit post-2022 high as housing market regains momentum
The rush to complete before April’s Stamp Duty changes caused a spike in March, followed by a 4% dip in buyer demand and the slowest annual May price growth since 2016. Despite this pause, home-movers have quickly returned. Sales agreed were up 6% year-on-year across Great Britain, with Wales leading at +15% and London showing more modest growth at +1%. May’s figures also mark the most active May since 2021, suggesting growing confidence among buyers and sellers adjusting to the new tax and borrowing landscape.
Rightmove’s earlier data pointed to a more stable market with the post-deadline adjustment period giving way to renewed momentum. Buyers appear more willing to press ahead, even with higher costs, suggesting resilient housing demand across much of the country.
Click on the link for Blackdown Financial’s Residential Property Review for June.
