The average price of newly-listed homes for sale rises by 1.2% in May. This is a greater rise than the ten-year May average of 1.0%.
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Property market news
Housing market activity overall remains surprisingly confident despite uncertainty around global events and rising costs for many households.
The number of homes for sale is at its highest level for this time of year since 2015, with almost a third of listings seeing price reductions. Because of this, it’s more important than ever for new sellers to get pricing right from the start to avoid longer selling times.
Market activity remains resilient, including among first-time buyers
Despite ongoing cost-of-living pressures and higher mortgage rates, sales agreed are holding up well - down just 4% compared with this time last year, and actually 2% higher than the same period in 2024. This points to a market where many movers are still pressing ahead with their plans, where affordability allows, even amid wider uncertainty.
Prices
Over the last 12 months the average sales price in Bristol was £366,762.
33% of sales in the past 12 months were flats, achieving an average sales price of £274,826. Houses achieved an average price of £421,924.
The highest value recorded by the Land Registry over the past 12 months was £2,150,000 for a flat and £3,000,000 for a house.
Demand
Housing market activity overall remains surprisingly confident despite uncertainty around global events and rising costs for many households.
First-time buyers are showing similar resilience. Sales are down 4% compared with the stronger 2025 market, but just 1% below 2024 levels, indicating they’ve not yet been heavily impacted by recent rate rises.
Affordability is also being supported by more competitive pricing from new sellers. Typical first-time buyer homes saw only a modest monthly price increase (+0.3%) and remain 0.7% lower than a year ago.
Lettings update
Over the last 12 months, the average rent achieved for homes let in Bristol was £1,565 per month. This is a +3.1% change on the previous 12 month period.
67% of homes let in the past 12 months were flats, achieving an average rental value of £1,420 per month. Houses achieved an average rent of £1,936 per month.
30% of renters are aged Up to 21.
Mortgages
Mortgage rates have moved higher again during spring 2026, driven largely by global uncertainty and rising funding costs linked to the conflict in the Middle East.
Earlier in the year, some sub‑4% deals were briefly available, but typical fixed rates have since reset to the mid‑5% range, meaning higher monthly repayments for new buyers and those re-mortgaging.
That said, the mortgage market remains very much open for business. Lenders are continuing to innovate and compete for borrowers, with new products helping to improve access for those with smaller deposits. For example, from 18 May, Lloyds Banking Group has launched a new mortgage aimed at low‑deposit buyers. The product is available through Lloyds, Halifax and brokers, offering a five‑year fixed rate of 5.89% on properties up to £300,000, with a minimum deposit of just £5,000 from the buyer’s own savings. (lloydsbank.group.com).
Alongside this, buyers are benefiting from a wider choice of homes than a year ago, which can help offset higher borrowing costs through stronger negotiating power on price.
For those considering a purchase, the focus is increasingly on affordability rather than timing the market. While rates may remain a little higher in the short term, wage growth and slower house price inflation are helping to balance this out. For buyers with stable incomes and a longer‑term outlook, there are still good opportunities, particularly where realistic pricing and flexibility are helping deals progress.
Property market outlook
Market outlook for 2026: a more balanced market for buyers
As 2026 progresses, market conditions are becoming more favourable for buyers. Expectations are for steady, manageable growth, supported by improved choice and a market that rewards well‑prepared buyers who understand local values and act decisively when the right property comes along.
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.