Propertymark: Buyer demand eases as sales market remains steady – Mortgage Strategy
Demand from prospective buyers eased slightly in May, while sales activity and stock levels remained largely stable, according to the latest housing insight report from Propertymark.
The report found the average number of new prospective buyers registering with each member branch fell to 64 during the month.
Despite the dip in demand, viewing activity remained unchanged at an average of 2.2 viewings per available property, while the average number of sales agreed also held steady at eight per branch.
Official figures also showed UK residential sales volumes in May were broadly unchanged from the same month a year earlier, suggesting the market continues to hold steady despite affordability pressures.
On the supply side, estate agents listed an average of 10.1 new properties for sale during May, a slight fall on the previous month. However, the average number of homes available for sale edged up to 44 per branch, indicating stock levels continue to improve gradually.
Market appraisals, often seen as an indicator of future supply, slipped slightly to an average of 20 per branch.
The report also highlighted ongoing affordability challenges for households.
Data from the Office for National Statistics showed that 32% of adults found it either very or somewhat difficult to afford their rent or mortgage payments between 6 and 31 May. Around a quarter (25%) described payments as “somewhat difficult”, while 7% said they were “very difficult”.
Mortgage market data presented a mixed picture.
Gross mortgage advances fell during the first quarter of 2026, although the value of new mortgage commitments increased over the same period. Meanwhile, residential mortgage arrears remained broadly unchanged during the final quarter of 2025, but the number of new possession cases rose slightly in the first quarter of 2026.
Propertymark’s figures also suggest price negotiations remain common. Just 11% of member agents reported that properties achieved their asking price in May, while 84% said homes sold for less than the asking price.
Transaction times also remain lengthy. More than two in five agents (40.4%) said that most of their agreed sales were taking longer than 17 weeks to progress from offer acceptance to exchange.
Propertymark chief executive Nathan Emerson said: ““May’s figures demonstrate a housing market that continues to show resilience despite ongoing economic and geopolitical uncertainty.
“While we have seen a slight dip in prospective buyer registrations, stock levels have edged upwards, giving consumers more choice and helping to create a more balanced sales market.
“The Bank of England maintaining the base rate has provided a degree of
stability, but affordability remains a significant challenge for many households,
with buyers continuing to take a cautious approach. This is reflected in
properties typically achieving below the asking price and transactions continuing
to take more than 17 weeks to progress from offer acceptance to exchange.”
