As we move through May 2026, the mood among buyers is more measured than frantic, but that does not mean the market has gone quiet. In fact, one of the biggest shifts this spring is that buyers now have more choice. Rightmove says the number of homes for sale is at an eleven-year high for this time of year, while Zoopla has also reported that buyers have more choice than they have had in eight years. 

 

That is important, because more choice changes how people buy. Instead of feeling pressured to make a quick decision on limited stock, buyers can compare homes more carefully, weigh up value and think harder about what suits their budget and lifestyle. For many households, that is a welcome change after a period when competition often felt intense and options were thinner.

 

At the same time, this is not a market where buyers can afford to drift for too long. Demand has softened compared with last year, but it has not disappeared. Rightmove’s latest snapshot shows new buyer demand in April was 7% below the same point in 2025, yet agreed sales were only 3% behind last year, which suggests committed movers are still getting on with their plans. 

 

Mortgage costs remain a big part of the picture. The average 2 year fixed mortgage rate has risen to 5.42% in April, up from 4.25% before the recent geopolitical shock it references, and it estimated that this added around £235 a month to a typical new mortgage. Meanwhile, the Bank of England has held Bank Rate at 3.75% and warned that higher energy costs are likely to keep inflation higher in the short term. 

 

Even so, there are reasons many buyers are staying engaged. The average earnings were up 3.9% year on year while asking prices were down 0.9% annually in its data, which has helped affordability at the margin. Its figures also suggest first-time buyer demand has held up relatively well despite borrowing costs. 

 

That makes this month’s market feel more balanced than dramatic. The latest official figures from the ONS show UK house prices rose 1.2% in the year to February 2026, taking the average to £268,000. That points to a market still moving forward, but at a steadier pace than in stronger growth periods. 

 

For buyers, the practical takeaway is simple. This is a good time to get organised. Having more stock on the market means you can be more selective, but it also means the best homes will still attract attention if they are priced sensibly. Make sure you understand your budget clearly, speak to a mortgage adviser early, and keep some flexibility in your expectations. Being prepared matters just as much as being enthusiastic.

 

May is often a month when moving plans become more real. Families start thinking ahead to summer, first-time buyers revisit their finances, and people who paused earlier in the year begin looking again. In that kind of late spring market, confidence comes from preparation rather than rushing.

 

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