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January 2026 presented a mixed picture for the property market, reflecting both stability and ongoing pressure on affordability, according to the latest housing insight report from Propertymark.
On the sales side, the number of new prospective buyers registering per member branch held steady at 74, signalling consistent interest despite broader economic challenges. However, housing costs remain a concern, with 29% of adults reporting that they found it ‘very or somewhat difficult’ to cover rent or mortgage payments during the period from 3 December 2025 to 4 January 2026.
Meanwhile, the lettings market continued to feel the squeeze of high demand against limited supply. New fully managed property instructions fell slightly to an average of 3.87 per member branch, yet competition remains fierce, with each available property attracting an average of seven applicants in January 2026. This combination of steady buyer interest, affordability pressures, and tight rental markets highlights the delicate balance shaping the property landscape at the start of the year.
Nathan Emerson, CEO of Propertymark, said: “January’s figures highlight a housing market that is gradually regaining momentum following the festive period. While the Bank of England base rate remains at 3.75% and inflation still above target continues to influence borrowing costs and consumer confidence, we are seeing encouraging signs of resilience across both the sales and lettings sectors.
“Viewing numbers rising to an average of 2.2 per property, alongside an increase in market appraisals to 21 per branch, suggests that many sellers are beginning the year with renewed confidence and are preparing to bring homes to market. At the same time, the modest uplift in sales agreed indicates that buyers remain active, although affordability pressures and the wider economic environment mean many continue to negotiate below the asking price.
“Within the lettings market, demand continues to outstrip supply, with an average of seven applicants competing for each available property. Although stock levels have edged slightly upward, supply remains constrained, and this imbalance is likely to remain a key challenge for renters and agents alike throughout the year.
“Overall, the data points to a market that is stabilising rather than surging. Activity is returning after seasonal slowdowns, but the pace of recovery will remain closely linked to inflation trends, interest rate decisions, and wider economic confidence during 2026.”
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