The housing market remained resilient during the second quarter of 2026, but affordability pressures and wider geopolitical uncertainty continued to slow buyer decision-making, according to Landmark Information Group.
Its latest Residential Property Trends Report found listing volumes across England and Wales were just 1% lower than a year earlier, leaving buyers with plenty of choice, while sellers increasingly reduced asking prices to remain competitive.
Although overall sold subject to contract (SSTC) volumes were down 7% year-on-year, Landmark said comparisons were distorted by the surge in activity ahead of the Stamp Duty deadline in March 2025.
More encouragingly, buyer demand strengthened as the quarter progressed, with June recording the strongest month of 2026 so far for new conveyancing instructions, finishing just 4% below June last year.
CAUTIOUS PICTURE
Rather than following the traditional spring uplift, search order volumes peaked in March before easing through the remainder of the quarter, ending 8% below the same period in 2025.
Landmark said mortgage activity was also influenced by borrowers bringing forward applications in March amid heightened geopolitical tensions and concerns that mortgage rates could rise further.
Simon Brown (main picture, inset), Chief Executive Officer at Landmark Information Group, says: “Our data for Q2 2026 demonstrates the market remains resilient despite a challenging backdrop.
“Healthy stock levels and strengthening transaction pipelines show the appetite to move is still there, but affordability pressures and wider uncertainty are influencing how quickly buyers are progressing through the transaction process.
“While Government and industry cannot control wider economic conditions, we can address the friction and uncertainty within the transaction process itself.
“As homebuying and selling reform progresses, the focus must be on creating a more transparent and predictable experience, in continued partnership with the sector, that gives consumers greater confidence to move.
“The data reinforces the need for a more connected homebuying and selling process, where better collaboration and the seamless flow of information help reduce delays, improve certainty and keep transactions progressing, regardless of wider market conditions.”
REDUCED ASKING PRICES
Ben Robinson, Managing Director of Landmark Estate Agency Services, adds: “Supply has remained resilient throughout Q2, with listing volumes only marginally below last year’s levels and healthy stock levels continuing to provide buyers with plenty of choice.
“The issue isn’t a shortage of properties coming to market. Instead, sellers are increasingly having to reduce their asking prices to compete for buyers’ attention.
“Encouragingly, buyer demand strengthened as the quarter progressed, demonstrating that people still want to move.
“However, with greater choice available and wider affordability pressures continuing to influence decisions, buyers are taking longer to commit before agreeing a purchase.”
