The UK housing market is showing signs of resilience in the face of inflationary pressure, legislative uncertainty and ongoing delays in transaction completion, according to new data from Propertymark.
The membership body for property agents reported that in May 2025, member branches recorded an average of 11.5 homes listed for sale, down slightly from 13.6 in April.
The number of new prospective buyers registered per branch also declined to 75, a drop Propertymark attributes to the stamp duty threshold changes introduced across England and Northern Ireland at the beginning of April.
Despite the dip in new buyer registrations, market activity has held firm.
IMPRESSIVE RESILIENCE
Nathan Emerson, Chief Executive of Propertymark, says: “As we progress further into the year, it is encouraging to witness the impressive resilience within the housing sector.
“Despite inflation remaining stubborn relative to the Bank of England’s 2% target – and the subsequent influence this continues to have on base rate decisions – the market has still delivered house price growth.
“These factors have certainly not discouraged consumers from entering the buying and selling process. It is especially positive to see the average number of viewings per property available for sale trending upwards so far this year.”
TRANSACTION TIME CONCERN
Propertymark data shows that 37% of housing transactions are taking longer than 17 weeks to complete. While this marks a slight improvement from the post-pandemic peak in summer 2022, it highlights the continuing challenge of prolonged conveyancing times.
In the lettings sector, supply remains tight, with the average number of properties available to rent per branch falling to 12.43 in May.
The average void period increased to just over three weeks, reflecting ongoing pressure on the rental market. While two-thirds of agents reported that rents remained static, 23% said they had increased and 11% saw a fall.
Tenant arrears also edged up, rising to an average of 2.9% in May, compared to 2.2% the previous month.
RENTERS’ RIGHTS BILL
Looking ahead, Emerson warns of further uncertainty as the sector prepares for legislative reform.
He adds: “Within the lettings sector, many challenges and uncertainties remain.
“Over the coming months, it is braced for change with the introduction of the Renters’ Rights Bill.
“While the new legislation aims to provide better protection for tenants across England and Wales, it also brings considerable uncertainty for many landlords regarding how they can successfully provide and maintain sustainable, high-quality accommodation under the proposed framework going forward.”
Download the report HERE.
