Latest figures show activity softening for Q2 but set against strong 2025 comparatives
The housing market remained ‘active but cautious’ in the second quarter of this year, according to Landmark Information Group’s Q2 2026 Residential Property Trends Report.
Year-on-year comparisons for the quarter suggest activity softened across parts of the market, but Landmark points out that the comparatives were set against an unusually strong benchmark created by the heightened activity surrounding the Stamp Duty Land Tax (SDLT) deadline in March 2025.
Supply remained steady during the second quarter, with listing volumes across England and Wales only 1% lower year-on-year. Sold subject to contract volumes were down 7% compared to the same quarter the year before.
Demand strengthened during the quarter, with June the strongest month of 2026 so far for new conveyancing instructions, only 4% below June 2025.
Search volumes peaked in March but eased in the remainder of the quarter, finishing 8% below Q2 2025 volumes.
Mortgage offers spiked in April, in part to borrowers being prompted to act in March on fears of rate rises. Activity then eased through May and June as this earlier demand moved through the pipeline.
Softer quarter for Scotland
Scotland also experienced a softer quarter, with new listing volumes averaging around 9% below the same period in 2025 and declining as the quarter progressed, and sold subject to missives volumes down 6%.
Simon Brown, CEO, 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.”
Elizabeth Jarvis, divisional director of legal and search, Landmark Information Group, said: “We’d normally expect to see search order activity build steadily through the spring as the market gathers momentum, but that seasonal uplift didn’t materialise this year. Instead, volumes peaked in March before easing through the remainder of the quarter, even as conveyancing instruction volumes continued to strengthen.
“This suggests that affordability pressures, along with wider economic and geopolitical uncertainty, continue to influence decision-making. While activity continues to move through the pipeline, buyers are progressing at a more measured pace.”
