House price growth will almost halve by the end of the year, as affordability tightens and more homes enter the market.
According to Rightmove, the average national asking price rose by an annual 9.7% last month, down from 10.2% in April. However, increased borrowing costs and more choice in properties on the market are forecast by Rightmove to cause that rate to slow to 5% by the end of the year.
Demand per property, defined as users viewing a property online and requesting more information, fell by 8% in May compared with April.
