Sales stock rises while rental properties decline in May
The UK housing market showed increased property stock for buyers in May 2026, while the rental sector experienced a further decline in available properties, according to data from Propertymark.
The estate agency trade body’s Housing Insight Report reveals that prospective buyer registrations fell to an average of 64 per branch in May, down from 78 in April. However, available stock increased marginally from 43 to 44 properties per branch during the same period.
The average number of viewings per property declined from 2.4 to 2.2 between April and May 2026, whilst sales agreed remained stable at eight per branch.
Pricing pressures
The data shows that 84% of member agents reported properties sold below the asking price in May, a slight improvement from 86% in April. Only 11% of properties achieved the asking price during the month.
Transactions continue to take more than 17 weeks to progress from offer acceptance to exchange, according to the report.
Rental market supply squeeze
The lettings sector showed a widening gap between supply and demand. Average rental properties per branch fell from 12.65 to 12.09 in May, while tenant registrations jumped from 86 to 98 per branch.
This created an average of eight applicants competing for each available rental property. The supply constraints in the rental market come amid ongoing changes to housing policy and continued pressure on landlords.
Nathan Emerson, Chief Executive of Propertymark, 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.”
He added that affordability remains a significant challenge for many households, with the Bank of England’s decision to maintain the Bank Rate providing stability but not resolving underlying cost pressures.
On the lettings sector, Emerson warned that “ongoing legislative change and continued pressure on landlords risk limiting future investment in the private rented sector at a time when more homes are urgently needed.”
Market outlook
The data suggests a gradual rebalancing in the sales market as stock levels improve, though buyer caution persists. The rental sector faces continued supply constraints, with demand outstripping availability by a significant margin.
Rental arrears showed a marginal improvement during the period, though the sector continues to face structural challenges around supply and regulatory change. The lettings market dynamics contrast with developments in the sector, including recent investment in lettings technology platforms.
