May 2025 was the busiest month for house sales being agreed in over three years as mortgage rates remain lower than recent highs and Kingston had the second highest increase of all London boroughs.

However, while nationally the number of sales agreed was up six per cent year-on-year, the number of transactions was in London was just one per cent higher on the previous year.

The top 10 sales hotspots were also outside London, reflecting the continuing stretched affordability in the capital, according to the Rightmove research.

Rightmove said May is traditionally a brisk month for sales and last month's transactions reflect improved market conditions as home movers press ahead, following a stamp duty hike at the start of April.

Last month was also the busiest month for agreed property sales in May since 2021.

Rightmove said the average five-year fixed mortgage rate is 4.61 per cent, compared with 6.11 per cent in July 2023.

Of all the London boroughs, Kingston had the second highest increase of agreed sales last month where the average price was £782,000 and the number of transactions was up 52 per cent.

The London borough with the biggest jump in sales agreed was Barnet, where the average price is £735,200 and the number of transactions jumped 68 per cent compared to last year.