UK Property Market Update: Record Asking Prices vs. Local Reality

The property market in North Yorkshire is feeling the chill this spring. With homes taking an average of 62 days to find a buyer and low offers becoming the norm, we're seeing a clear shift in buyer confidence. Find out what's really happening locally and how sellers can adapt.

UK Property Market Update: Record Asking Prices vs. Local Reality

The latest Rightmove House Price Index reveals that the average UK asking price has reached a record £379,517 in May 2025, marking a 0.6% monthly increase. However, this rise is the smallest for May since 2016, indicating a more subdued market compared to previous years.

🏡What’s Happening in the Local Market?

In North Yorkshire, we're observing an average time of 62 days to secure a buyer, which is notably longer than the national average. Buyer activity has been quieter, with many potential purchasers submitting offers below the asking price. This trend suggests that buyers are exercising caution, possibly influenced by the increased number of properties available on the market.

Market Dynamics

The current market conditions favour buyers, given the heightened competition among sellers and the broader selection of properties. Sellers aiming for a successful sale should consider realistic pricing strategies and ensure their homes are well-presented to stand out.

Looking Ahead

With the Bank of England's recent interest rate cut to 4.25%, there's potential for increased buyer affordability, which may stimulate market activity in the coming months. However, sellers should remain adaptable and responsive to market feedback to achieve optimal outcomes.

If you're considering selling your property or seeking advice on navigating the current market, feel free to reach out to our team for personalised guidance.

**Information from this article has come from Rightmove's latest house price index**

If you want to know how the current housing market is affecting your house price, give us a call on 01748 834373 (option2) to book a free valuation, or for some advice from your local property experts!

Get in touch with us

First Name

Last Name

Your Email Address

Mobile Phone

Are you looking to

Buy

Sell

Rent

Let

Please enter message here

Please confirm that it is okay for us to contact you about this information as well as products and services. (You will always be given the right to unsubscribe at any point in the future)

Confirm

Surviving the Renters’ Rights Act – Join Us for Our Landlord Info Evening Wednesday 3rd December!

The rental landscape is changing — and while headlines can feel overwhelming, the truth is simpler: with the right guidance and good management, landlords can navigate the Renters’ Rights Act with confidence.

CLICK HERE >

🏡 UK Property Market Update: November Sees a Seasonal Slide

November’s data confirms what we’re seeing locally: the market has entered its seasonal slowdown a little earlier than usual. The national averages are dipping, but activity hasn’t stopped; it’s just shifted toward serious, value-focused buyers.

CLICK HERE >

What you need to know as a landlord from the autumn budget 2025

Rather than singling out landlords, the changes form part of a wider restructure of investment-related taxation. Below is a clear, factual and reassuring summary of the parts most relevant to landlords, and how Love Property can support you through them.

CLICK HERE >

Thinking of changing your estate agent this autumn?

If your home has been sitting on the market with no progress, you’re not stuck. Switching estate agents is easier than you think, if you understand your contract and prepare properly. Here’s the truth, the timelines and the process to relaunch with impact.

CLICK HERE >