Buyers viewing properties fell from around 2.7 to 2.4 per property month-on-month in April, but the average number of new prospective buyers registered per member branch remained stable at 78.
On average, per branch, there were around 12.3 homes placed on the market for sale – up from 10 in the previous month.
Meanwhile, the number of tenant registrations per member branch – an indicator of demand – increased to an average of 86, up from 80 in March.
Nathan Emerson, Propertymark’s chief executive, said the readings suggested that committed purchasers were still actively progressing transactions.
He noted: “It’s encouraging to see new sales instructions and overall stock levels increase, providing buyers with greater choice. However, affordability challenges remain a key consideration, particularly as higher borrowing costs continue to influence budgets and purchasing decisions. With a significant proportion of transactions still taking more than 17 weeks to reach exchange, there remains a clear need for continued improvements to the home buying and selling process.”
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Emerson said within the rental market, demand continued to significantly outstrip available supply.
Stock levels improved slightly during April; however, there were still around seven applicants competing for every available property.
Emerson added: “Policymakers must remain focused on measures that encourage investment and support the supply of homes across all tenures if long-term affordability and accessibility are to improve.”
