Propertymark's Housing Insight Report for July 2026 paints a picture of a property market caught between tentative recovery and persistent structural strain, with the rental market showing no sign of the supply-demand squeeze easing.
"July's figures present a market with encouraging signs of activity, but one that remains challenging for both agents and their clients," said Nathan Emerson, CEO of Propertymark.
"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."
The report highlights pricing discipline as increasingly decisive for sellers. Agents are reporting a more cautious approach from consumers, with realistic pricing seen as critical to securing a sale. Delays in the legal process are adding to the difficulty, with more than half of agents seeing most sales take 17 weeks or more from acceptance to exchange.
"The fact that more than half of agents are seeing most sales take 17 weeks or more from acceptance to exchange is particularly concerning," Emerson added. "Delays in the conveyancing process continue to create uncertainty and can undermine confidence in an otherwise functioning market."
The lettings picture is similarly strained. Nine applicants registered for every available rental property in July, and while rental growth showed signs of moderating, affordability remains a significant issue for tenants. Rising rental arrears pointed to broader financial pressures on households.
"In lettings, the fundamental imbalance between supply and demand remains stark, with nine applicants for every available property," he said.
"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 concluded that activity in the market should not be mistaken for ease. "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."
