Buyer numbers rise but lengthy sales and rental shortages squeeze market

Propertymark’s latest figures show an average of 75 new prospective buyers registered per member branch during July 2026.

Agents also had an average of 10.9 homes for sale per branch during the month.

Propertymark said sales activity showed signs of improvement, with modest increases in both sales agreed and new instructions.

However, buyers retained considerable negotiating power. The majority of properties sold for below their asking price.

Transaction times also remain a concern for agents and vendors. More than half of agents reported that most sales took 17 weeks or longer to move from offer acceptance to exchange.

Nathan Emerson, CEO of Propertymark, said: “July’s figures present a market with encouraging signs of activity, but one that remains challenging for both agents and their clients.

“The rise in prospective buyer registrations, alongside a modest increase in sales agreed and new instructions, suggests there is still underlying demand in the sales market.

“However, with stock levels continuing to build and the majority of properties achieving below asking price, the balance of power remains firmly with buyers.”

Sales delays remain a concern

Emerson said realistic pricing was becoming increasingly important as consumers took a more cautious approach.

He added: “The fact that more than half of agents are seeing most sales take 17 weeks or more from acceptance to exchange is particularly concerning.

“Delays in the conveyancing process continue to create uncertainty and can undermine confidence in an otherwise functioning market.”

Nine tenants chasing every rental property

Meanwhile, letting agents continue to face a significant imbalance between rental supply and demand.

Propertymark recorded an average of 8.32 new tenancies agreed per member branch in July.

However, there were still nine applicants for every available rental property.

Emerson said: “In lettings, the fundamental imbalance between supply and demand remains stark, with nine applicants for every available property.

“While rental growth appears to be moderating, the continued pressure on available stock means affordability remains a significant issue for renters.

“The increase in rental arrears also reinforces the need for policymakers to consider the wider financial pressures facing households.”

Emerson said the July figures showed that activity remained in both the sales and lettings markets, but significant obstacles persisted.

He added: “Overall, July demonstrates that there is activity in the market, but activity should not be confused with ease.

“The industry needs greater certainty, more housing supply and a smoother transaction process if we are to turn cautious demand into sustainable market growth.”