Buyer registrations fell to an average of 55 per branch in June while rental demand held at nine applicants for every available home, according to Propertymark’s latest Housing Insight Report, as the trade body pointed to a market still moving but with households growing more selective.
The report shows sales agreed barely shifted at 7.8 per branch even as fresh buyer interest softened, suggesting transactions are still being held up by committed movers rather than any broad rebound in confidence. At the same time, 84% of member agents said most homes were selling for less than asking price.
The mix points to two pressures landing at once. Investors looking to sell may need sharper pricing to get deals away, while those staying in the sector are still facing a rental market where demand is running well ahead of available stock.
Propertymark data shows cautious sales and tight lettings
Propertymark said viewings were broadly unchanged at 2.1 per available property and stock stayed flat at 42 homes per branch in June. New instructions averaged 9.5 properties per branch, while market appraisals came in at 22.
On the lettings side, the headline remained familiar: tenant competition stayed intense. The average of nine applicants per available property was unchanged from the level already flagged in earlier summer updates, underlining how little relief has appeared for renters despite wider signs of caution in the sales market.
Nathan Emerson, chief executive of Propertymark, said mortgage approvals and overall mortgage lending had dipped significantly in recent months and would likely shape sentiment heading into the Autumn Budget.
“A key concern over the last few months has been witnessing both the number of mortgage approvals dip and the overall volume of mortgage lending fall significantly. This will very likely shape market sentiment in the coming months, and it remains something to watch closely, especially with the Autumn Budget fast approaching.”
This follows Residential Landlord’s recent coverage of Propertymark’s warning that Welsh rental stock is still shrinking, and earlier reporting on its concerns over policies that could squeeze landlord supply further. The latest figures suggest the stock problem remains live even when the sales market looks calmer on the surface.
There is also a clear warning in the sales data for landlords banking on an easy exit. If buyer enquiries are slipping while agreed sales hold steady, the market may be relying on a narrower pool of active buyers than the topline transaction figure suggests. That can leave sellers exposed if pricing drifts too far from where purchasers now see value.
Landlords face a more selective buyer pool
For landlords weighing disposals, June’s figures support a blunter message than many market summaries do. Stock is not collapsing, but buyers are more price-sensitive and more willing to negotiate. That matters most for flats, tenanted stock and properties needing work, where investor demand can cool faster once finance costs or refurbishment budgets look stretched.
For landlords staying put, the lettings side of the report offers little sign that competition for homes is easing. Demand remains strong enough to support occupancy, but that does not remove the wider issue of affordability pressure among tenants, which can still affect arrears risk, void strategy and rent-setting decisions.
Primary source: Propertymark Housing Insight Report: June 2026.
Opinion
This is not a crash signal, but it is a reminder that liquidity and confidence are not the same thing. Landlords can still sell, refinance and let property – yet the room for lazy pricing is narrowing. A market that looks steady on headline transactions can still turn awkward quickly if buyer depth keeps thinning.
