Rental supply has reached a two-year high, according to the latest Housing Insight Report from Propertymark, with the average number of available rental properties rising to 13.46 per member branch in April 2025.
The report also noted easing sales activity, with viewings per available property dipping to 2.3 on average.
In the sales market, the average number of new prospective buyers registered per branch fell to 87, while the average number of homes listed for sale stood at 13.6 per branch.
The proportion of transactions taking over 17 weeks to complete dropped to 32%, down from 41% in July 2022.
Nathan Emerson, chief executive of Propertymark, said: “As the new Stamp Duty thresholds were introduced from April across England and Northern Ireland, it’s inevitable that a slowing in the pace of the market was to be noted.
“However, other factors such as improved mortgage deals from lenders, an ongoing steady stream in the number of mortgage approvals and borrowing, as well as continued appetite and confidence from home movers, are all hugely positive signs that the housing market remains resilient amongst economic uncertainty.”
In the lettings market, the number of applicants averaged seven per available property. While 56% of member agents reported rents holding steady in April, 13% saw rents fall and 31% said they had increased.
Emerson added: “In the lettings market, we have seen a welcome jump in the number of properties on the market.
“As we continue to see a growing demand from tenants across the country, we need to see this trend continue at pace to help bring down rent levels and provide greater choice for the nation in the long term.”
The report presents a mixed picture of a cooling sales environment and a cautiously improving rental sector, with more stock helping to balance high tenant demand.
