House prices have fallen by 0.4% in May, as the market adjusts after April’s stamp duty deadline.

Across Great Britain, the number of sales agreed is now 6% ahead of the same period last year.

Market activity is holding up well following the end of the stamp duty holiday.

Buyers and sellers have sprung into action after Easter, with the number of sales agreed in May the highest in four years.

March was defined by heightened anticipation and activity ahead of the stamp duty changes.

Rightmove says mortgage rates will be crucial in determining the level of buyer activity for the rest of the year.

Feedback on new buyer enquiries and agreed sales remains relatively downbeat.

Northern Ireland, Wales and Scotland see strongest annual price growth.

Prices fell by 0.6% between March and April.

This current affordability ratio is the best it’s been in the last 10 years.