Busiest month for sales agreed since March 2022, and 6% ahead of this time in 2024
(June week 3)
May 2025
The average asking price of all homes currently available to buy in Bristol is £388,203.
Market Activity Snapshot
| Market Metric | Apr-25 | May-2025 | Change |
| Homes listed for sale | 161 | 141 | -12.40% |
| Sales leads (buyers) | 2,787 | 2,465 | -11.60% |
| Offers made on properties | 588 | 581 | -1.20% |
Prices
New seller asking prices drop by 0.3% (-£1,277) this month to £378,240. This is an unusual dip for June, as new sellers lower their price expectations amid decade-high competition to secure buyers.
“It appears that we’re now seeing the decade-high level of homes for sale, and the recent stamp duty increases in England, have a delayed impact on new sellers’ pricing. Prices have fallen this month after the new records set in April and May. Agents have been telling us that sellers need to set a competitive price to have a better chance of finding a buyer in the current market, and it looks like many are listening and responding to that message. Such realistic pricing will remain key in the coming months.” (Rightmove)
The number of homes for sale has grown most quickly across southern regions of England, boosting choice.
There are 21% more homes for sale in the South West compared to a year ago, with 17% more in London and 15% more in the South East.
Slowest rental growth for 4 years
In the 12 months ending April 2025, average rents for new tenancies rose by 2.8%. This is less than half of the 6.4% growth rate seen just one year earlier. The average rent (pcm) now stands at £1,287, with an increase of £35 over the past year. The decline is a result of weaker demand and ongoing affordability pressures.
Cooling rental demand
While demand for rental properties has declined by 16% in the last year, it remains more than 60% above pre-pandemic levels. This is likely related to lower levels of migration for work and study, with the ONS reporting a 50% decline in net migration in 2024. Although lower, migration levels remain above average.
Market outlook for 2025 and beyond. Cautious optimism.
Looking ahead, the consensus among property market experts is for steady, modest growth rather than any dramatic swings. After the slight dip in momentum recently, Bristol’s housing market is expected to gently pick up pace through late 2025.
Mortgages
The average two-year fixed mortgage rate has fallen to its lowest point since the start of September 2022, before the ‘mini-Budget’.
The availability of product choice grew further, and the average shelf-life of a deal fell.
Interest Rates and Mortgage Costs
Several major lenders, including Barclays, Nationwide, Lloyds, Halifax, HSBC, and Virgin Money, have lowered their mortgage rates.
We hope that was useful and informative. As always, our teams are here to help, get in touch with any questions about your local property market.
If securing a new mortgage or arranging a re-mortgage is important for you right now, click here to book an online consultation, our mortgage brokers are independent, and their services are free to you.
Finally, if you are (understandably) confused by some of the mixed market reporting, not least by some of the more sensational news reporting each month, click here for some independent insight into how House Price Indexes are compiled.
Sources: Rightmove, Zoopla, On the Market, Dataloft by Price Hubble, Land Registry, ONS National House Price Index, DLUHC.