Buyer demand eased slightly in May, while sales activity and stock levels remained steady, according to the latest housing data report from Propertymark.
The report found the average number of new prospective customers signing up for each member branch dropped to 64 during the month.
Despite the decrease in demand, viewing activity remains unchanged at an average of 2.2 viewings per available location, while the average number of sales agreed is also stable at 8 per branch.
Official figures also showed that UK residential sales prices in May were unchanged from the same month last year, suggesting that the market continues to hold firm despite pressure on affordability.
On the supply side, real estate agents recorded an average of 10.1 new properties for sale in May, a slight drop from the previous month. However, the average number of homes available for sale is up to 44 per branch, indicating that stock levels continue to improve steadily.
Market inspections, often seen as an indicator of future supply, fell slightly to an average of 20 per branch.
The report also highlighted the ongoing challenges of affordability for families.
Data from the Office for National Statistics showed that 32% of adults found it very or somewhat difficult to pay their rent or housing payments between 6 and 31 May. Almost a quarter (25%) described payments as “somewhat difficult”, while 7% said they were “very difficult”.
Mortgage market data presented a mixed picture.
Total mortgages decreased in the first quarter of 2026, although the number of new mortgage commitments increased during the same period. Meanwhile, mortgage loans remained unchanged during the last quarter of 2025, but the number of new acquisitions increased slightly in the first quarter of 2026.
Propertymark statistics also suggest that price negotiations remain normal. Only 11% of member agents reported that properties achieved asking price in May, while 84% said homes sold for less than asking price.
Transaction times are also always long. More than two in five (40.4%) say most of their agreed sales take more than 17 weeks to progress from offer acceptance to exchange.
Propertymark chief executive Nathan Emerson said: “May’s figures show the housing market continues to show resilience despite continued economic and global uncertainty.
“Although we have seen a slight decrease in consumer enrolments, stock levels have increased, giving consumers more choice and helping to create a more balanced retail market.
“The Bank of England which maintains the base rate has given the rate
stability, but affordability is still a major challenge for many families,
and consumers continue to take a cautious approach. This is seen in
properties that are often earning below asking price and ongoing operations
taking more than 17 weeks to progress from offer acceptance to trading.”
