New data from Propertymark appears to suggest that the worst of the demand-supply imbalance for renters appears to have passed – but there’s still an overall shortages of homes to let.

In its latest monthly report, relating to August, Propertymark says each branch has an average of 13.3 homes to let but for each of those there are eight competing registered tenants. Some 56% of member agents report rents roughly static and 38% reporting rises.

The trade body says an average 11.3 tenants signed new deals per branch in August – a slightly lower figure than earlier in summer. 

Nathan Emerson, chief executive of Propertymark, comments: “The pace of rent growth is slowing, and arrears are starting to fall. In some areas, demand has softened, particularly where more rental stock is returning to the market, giving some tenants a bit more breathing room. However, the general lack of stock against a backdrop of increasing demand is still an ongoing concern, and without a boost, long-term sustainable rent levels will not be achievable.”

Meanwhile on the sales side each Propertymark branch saw an average of 12.3 homes coming to the market in August. Combined with homes put on the market earlier in the year, this took the average stock level up to 44 properties per branch. 

Sales agreed fell from around 10 for each Propertymark branch in July to only 7.5 in August. Yet even that figure was not significantly different from previous Augusts in recent years – suggesting to me that the market is in decent shape.

Emerson adds: “The UK housing market has seen a modest recovery in 2025, with sales activity picking up and stock levels rising across most regions. However, affordability remains constrained due to still-elevated mortgage rates and tax uncertainties, particularly in the South. Higher inventory levels, more frequent price reductions, and a widening gap between asking and achieved prices are giving buyers greater leverage.”