UK asking prices show bigger-than-usual rise in May, Rightmove says

LONDON, May 18 (Reuters) - Asking ​prices for ⁠British homes in May ​rose by more than usual for the time of ​year, despite ‌uncertainty about the Iran war, and a ⁠key mortgage rate eased back, property ⁠website Rightmove said ​on Monday.

Property prices rose by a monthly 1.2%, above the 1.0% increase usually seen in May, ​Rightmove ‌said. Prices rose by 0.8% in April from March.

"What's notable this month is that activity in the market is staying fairly steady, ​even with ongoing cost-of-living pressures and wider global ‌uncertainty," Colleen Babcock, property expert at Rightmove, said.

The Rightmove survey also showed:

* ‌Asking prices were 0.3% lower than a year earlier

* The average two-year fixed mortgage interest ​rate fell to 5.18% on May 11 from 5.42% a ‌month earlier

* Price falls in annual terms in the first-time buyer sector eased affordability problems in ⁠London ⁠and the southeast of England

* The ‌number of homes for sale held at an 11-year ​high

* ​Sales agreed were 4% below ‌their level a year earlier and 2% higher compared with the same period in 2024