The latest market snapshot from Propertymark shows more of the same – demand for rental property were ahead of supply.
During June a typical Propertymark agent took on an average of three new rental properties to let, while at the same time registering over eight new tenants seeking homes.
When long-standing applicants are taken into account, the trade body says there are now nine potential renters chasing every available rental property.
On the sales side, the typical Propertymark branch took another 9.5 homes on to its books in June, pushing the average stock total up to 42 per branch.
The average number of viewings per available property in June 2026 remained broadly steady at an average of 2.1. And the number of market appraisals hit 22 per branch.
Phil Spencer, the market commentator and founder of Move iQ, says: “June’s figures show a housing market that is still moving, but where buyers and renters remain cautious.
“Buyer registrations dipped, while viewings and sales agreed stayed broadly steady, highlighting that demand hasn’t disappeared but buyers are increasingly selective and realistic pricing remains crucial.
“Although inflation is moving closer to target and the Bank Rate has held steady, affordability remains a significant concern, with 31% of adults reporting difficulty meeting their rent or mortgage costs.
“In lettings, demand continues to significantly outstrip supply, although longer void periods and reports of rents easing in some areas suggest a more nuanced market.
“As we enter the second half of the year, economic conditions and the Autumn Budget will be important factors. Realistic expectations will remain key for buyers, sellers, landlords and tenants.”
Propertymark chief executive Nathan Emerson adds: “A key concern over the last few months has been witnessing both the number of mortgage approvals dip and the overall volume of mortgage lending fall significantly.
“This will very likely shape market sentiment in the coming months, and it remains something to watch closely, especially with the Autumn Budget fast approaching.
“It will be a case of closely monitoring what the new Chancellor sets out regarding housing in the months ahead.”
