Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.
Propertymark Reports Slight Dip in Buyer Demand as Sales Market Holds Steady
Demand from prospective buyers eased slightly in May, according to Propertymark’s latest housing insight report. Despite this, sales activity and stock levels remained largely stable across the UK property market.
The report found that the average number of new prospective buyers registering with each member branch fell to 64 during May. Viewing activity was unchanged, with an average of 2.2 viewings per available property. The average number of sales agreed per branch also held steady at eight.
Official figures showed that UK residential sales volumes in May were broadly unchanged from the same month a year earlier, indicating a steady market despite ongoing affordability pressures.
On the supply side, estate agents listed an average of 10.1 new properties for sale during May, a slight decrease from the previous month. However, the average number of homes available for sale edged up to 44 per branch, suggesting a gradual improvement in stock levels. Market appraisals, which can indicate future supply, slipped slightly to an average of 20 per branch.
The report highlighted continued 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. Of these, 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, but the value of new mortgage commitments increased over the same period. Residential mortgage arrears remained broadly unchanged during the final quarter of 2025, while the number of new possession cases rose slightly in the first quarter of 2026.
Propertymark’s figures also indicated that price negotiations remain common. Only 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 remain lengthy, with more than two in five agents (40.4%) stating that most agreed sales took longer than 17 weeks to progress from offer acceptance to exchange.
Source: Mortgage Strategy