Recently listed in Barnet – Offers Over £685,000 – Full details
Hunters Market Update: May 2025
Zoopla’s recently released House Price Index, the property portal’s data shows that in May it recorded the highest number of sales agreed since 2021, as well as a 13% jump stock levels, up from the same time last year.
The report points to the recent interest rate cut from the Bank of England of 0.25% as a ‘welcome shot in the arm’ for the property market. With the bank interest rate now 4.25% and the Likelihood of further cuts later in the year, this has encouraged lenders to introduce some competitive fixed-rate deals as well as reintroducing zero deposit mortgages.
Rightmove’s recent House Price Index confirm a new record high for asking prices, although the underlying data paints a more cautious local picture. As your local estate agent in Barnet & Whetstone, we watch these trends closely to provide sellers and buyers with accurate, actionable advice.
This May marks the fifth consecutive year where average asking prices have reached new heights at this time of year, traditionally the property market’s busiest season. Homes and gardens are showcased at their best in the spring and early summer, helping fuel activity. However, while asking prices are indeed higher this May, the rate of growth is the slowest for the month since 2016, a direct reflection of broader supply and demand dynamics.
A Market Shaped by Supply and Stamp Duty Changes
Rightmove’s data reveals that new seller asking prices are up 0.6% (+£2,335) this month, reaching another all-time high. But this modest rise is overshadowed by the reality that there are more homes for sale than at any point in the past decade. Locally, this means buyers have greater choice, and sellers face stiffer competition. The recent changes to stamp duty thresholds continue to influence the landscape, with many sellers listing homes earlier in the year to beat the increase. As a result, the late spring market has become more subdued, with demand softening and a larger pool of properties available.
Currently, the number of homes for sale in North London is running at a ten-year high. This surge in supply is matched by a 14% year-on-year increase in new listings, a trend reflected across London and the home counties. Such an influx gives buyers more bargaining power and makes pricing strategy more important than ever.
Buyer Demand: Signs of Caution and Opportunity
The Rightmove index also notes a dip in buyer demand after a robust start to the year. The flurry of activity seen in March slowed in April, with new buyer demand sitting 4% below April 2024. This is a direct response to the stamp duty changes and increased choice in the market. Despite this, demand for the year to date remains 3% ahead of last year, and there are promising signs of a recovery as we move into late May.
Perhaps most encouraging for sellers is that the number of sales being agreed in the past month is 5% higher than at this time last year. In our local market, buyers remain active and are still tempted by properties that are correctly priced. However, as more sellers come to market, some caution on price expectations is essential to secure a sale in a competitive landscape.
Interest Rate Cuts: A Potential Boost for buyers
Looking forward, the latest Bank Rate cut could help restore some momentum. Rightmove’s weekly mortgage tracker shows that the lowest available two-year fixed mortgage rate is now 3.72%, down from 4.75% last year. This is likely to boost affordability and buyer confidence later in the year.
At Hunters, we recommend that sellers focus on realistic pricing. Buyers, meanwhile, should take advantage of increased choice and lower mortgage rates. For tailored advice, speak to our local experts. We’re here to help you navigate the changing Barnet market.
A Selection of Recently Listed Homes From Hunters
Here are just a few of our most recently listed properties for sale from our Barnet and Whetstone offices –
Semi detached house for sale in Barnet
Detached house for sale in Barnet
Semi-detached house for sale in East Barnet
Semi-detached Bungalow for sale in Barnet
Semi-detached house for sale in Barnet
To see the very latest homes coming to the market, click ‘New to market homes’, this lists all of the very latest homes as they come to the market.
See our ‘Recently Sold Properties’.
Mortgages
If you are considering a move, It is more important than ever to shop around for the best deals and remember that not all deals are advertised, some of the best deals are only available from mortgage brokers.
Contact mortgage advisors Simpson Bowers, a firm of local independent financial advisors on 020 8275 8555 www.simpsonbowers.co.uk I can highly recommend them as they have helped many of our clients, including myself.
Ready for a Summer Move?
Please feel free to call me at our Barnet office or Elliot at Whetstone if you are considering selling your home in the Barnet and Whetstone areas, either for an informal chat about the market and how we might help you with this or to book a market appraisal.
You can also use our Instant Online Valuation tool.
Good luck with your house hunting.
Michael Holloway – Hunters
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