Homebuyers are benefiting from more choice of property stock but affordability remains a “significant challenge,” Propertymark has warned.

The estate agency trade body’s latest member data from its Housing Insight Report, shows the average number of prospective buyers decreased to 64 in May 2026 from 78 a month before, while stock levels increased marginally from 43 to 44 per branch.

The average number of viewings per available property dropped from 2.4 to 2.2 between April and May 2026, Propertymark said.

Propertymark said the average number of sales agreed per member branch remained stable in May 2026 at eight per branch, while the overall number of member agents reporting that properties achieved the asking price in May 2026 stood at 11%.

An average of 84% of member agents reported properties achieved less than the asking price in May. It is down from 86% in April.

In lettings, the average number of properties for rent dropped from 12.65 per branch to 12.09.

Meanwhile, the average number of registrations per member branch jumped from 86 to 98 in May 2026.

Market challenges

Nathan Emerson (pictured), Chief Executive of Propertymark, says: “May’s figures demonstrate a housing market that continues to show resilience despite ongoing economic and geopolitical uncertainty.

“While we have seen a slight dip in prospective buyer registrations, stock levels have edged upwards, giving consumers more choice and helping to create a more balanced sales market.

“The Bank of England maintaining the Bank Rate has provided a degree of stability, but affordability remains a significant challenge for many households, with buyers continuing to take a cautious approach. This is reflected in properties typically achieving below the asking price and transactions continuing to take more than 17 weeks to progress from offer acceptance to exchange.

“In the lettings sector, the long-standing imbalance between supply and demand remains firmly in place. Although tenant demand increased throughout May, available stock fell slightly, leaving an average of eight applicants competing for every available property.

“While rental arrears have eased marginally, ongoing legislative change and continued pressure on landlords risk limiting future investment in the private rented sector at a time when more homes are urgently needed.”