The UK property market recorded a new milestone in April 2025, with the average asking price of a home rising to just over £377,000, according to new data released by Rightmove.

Buyer activity has increased year-on-year, with demand up by 5% compared to April 2024. At the same time, the volume of new property listings has grown by 4%, despite stock levels reaching their highest point in a decade.

Recent changes to Stamp Duty have not resulted in a higher rate of transaction failures. Rightmove’s analysis indicates that home sales were not adversely affected during the period when buyers were aiming to finalise deals ahead of the tax increase.

Although the number of buyers actively searching had previously declined, that trend is beginning to reverse. Buyer queues are starting to grow again, pointing to a potential resurgence in market engagement.

Regionally, stronger price growth and demand were observed in areas including the Midlands, the North of England, Wales, and Scotland. By contrast, the South East and South West reported smaller price increases.

London also reached a new average price high, despite seeing fewer buyer enquiries. However, Rightmove has noted that geopolitical uncertainty may influence the sustainability of this trend.

The average five-year fixed mortgage rate currently stands at 4.72%, with general rates remaining just below the 5% threshold.

Colleen Babcock, property expert at Rightmove, stated: “We’ve seen our first price record in nearly a year, despite the number of homes for sale being at a decade-high.
The increased choice seems to be bringing more home-movers into the market, with both buyer demand and seller numbers up.

“The high number of homes available in the market right now means that buyers are likely to have plenty in their area to choose from, and an overpriced home will stick out for the wrong reasons.”

She further noted the importance of pricing accuracy: “Our research also shows that getting the price right the first time is key. Homes that don’t need a reduction in price are more likely to find a buyer, and to find that buyer in less than half the time.
It’s difficult to predict what the next few months will bring, but if mortgage rates reduce more quickly, it would be a helpful boost to buyer affordability.”