The residential housing market remained relatively stable throughout the second quarter of 2026, despite ongoing economic, political and geopolitical uncertainty, the latest report from Landmark Information Group shows.
The data suggests the industry is 'resilient but restrained', strengthening the need to implement the government’s newly announced roadmap for homebuying and selling reform, to help insulate the industry against future external shocks and build consumer confidence.
While year-on-year comparisons for the quarter suggest activity softened across parts of the market, these figures should be viewed in the context of an unusually strong benchmark created by the heightened activity surrounding the stamp duty deadline in March 2025.
Looking beyond the heightened activity in Q1 2025, the data in Q2 2026 points to a market that remains active but cautious. Interested buyers and sellers continue to enter the market, however, many are taking longer to commit as affordability and global uncertainty influence decision making. As a result, transactions are at more subdued levels and progressing at a slower pace.
The data shows that supply remained steady throughout Q2, with listing volumes across England and Wales just 1% lower than the same period last year. Despite a softer June, stock levels remain healthy, leaving buyers with greater choice while sellers continue to make record level price reductions.
Buyer demand strengthened as the quarter progressed and June recorded the strongest month of 2026 so far for new conveyancing instructions, finishing just 4% below June 2025, pointing to a steady flow of new transactions continuing to enter the pipeline despite wider uncertainty.
Search order activity further demonstrates measured buyer behaviour. Rather than following the typical seasonal uplift, search volumes peaked in March before easing through the remainder of the quarter, finishing 8% below volumes in Q2 2025.
Mortgage activity was shaped by borrowers bringing decisions forward, rather than by a fundamental change in underlying demand. Mortgage offers spiked in April as lenders processed a backlog of applications submitted in March, when escalating geopolitical tensions heightened expectations of higher mortgage rates and prompted many borrowers to act sooner. Activity then eased through May and June as this earlier demand moved through the pipeline.
Simon Brown, CEO of Landmark Information Group, said: "Our data for Q2 2026 demonstrates the market remains resilient despite a challenging backdrop. Healthy stock levels and strengthening transaction pipelines show the appetite to move is still there, but affordability pressures and wider uncertainty are influencing how quickly buyers are progressing through the transaction process.
"While Government and industry cannot control wider economic conditions, we can address the friction and uncertainty within the transaction process itself. As homebuying and selling reform progresses, the focus must be on creating a more transparent and predictable experience, in continued partnership with the sector, that gives consumers greater confidence to move. The data reinforces the need for a more connected homebuying and selling process, where better collaboration and the seamless flow of information help reduce delays, improve certainty and keep transactions progressing, regardless of wider market conditions."
