The housing insight report found that residential sales volumes in May 2025 were lower than in May last year, while buyer registrations averaged at 74 per branch in June which is unchanged from the month prior.

The data shows that members agreed an average of 10.3 sales, a slight increase from the previous month. Of those transactions, 39% took  more than 17 weeks to exchange, an improvement compared with the 2022 peak at 41%.

Meanwhile, tenant demand fell with 57 new registrations per branch, while available rental stock slipped to 9.75 per branch.

It found that member branches agreed there was an average of 10.23 new tenancies.

The data also reveals that average rents stood at £1,399 in England, £999 in Scotland and £804 in Wales, which represents a 6.7% annual increase and 0.3% monthly rise.

Propertymark chief executive officer Nathan Emerson says: “Some regions are reporting robust levels of activity in the sales market, which is especially positive considering the continued economic turbulence being witnessed.”

“However, with strides being made by numerous lenders in bringing improved mortgage products to the market, this could help boost affordability and inspire further market uplift over the coming months on a wider scale.”

“In the lettings sector, there appears to be little fluctuation in outlook in the short to medium term, with demand continuing to significantly outstrip the supply of available rental properties.”

“This trend could worsen, not only due to a lack of support for landlords to invest in the sector—ultimately pushing rent levels higher across many regions—but also because tenants might now choose to stay put for longer, given the uncertainty and difficulty in finding a new home.”