Letting agents registered an average of 121 new applicants per member branch in August, a sharp jump that shows tenant demand still running well ahead of the homes available. Propertymark’s Housing Insight Report for August 2026 also puts the average void period at almost four weeks.
The figures, published on 12 October, capture the two-sided market agents now describe. Lettings branches are fielding more house-hunters per home while sales branches see buyers hesitate over asking prices. New buyer registrations dipped to 69 per branch, with around 10.8 homes placed on the market per branch.
Owners of rented homes keep pricing power in most areas on the back of these numbers, but the void figure sets the trade-off. A property that misses on rent level or presentation can still stand empty for the best part of a month, and with mortgage and compliance bills leaving less slack than they used to, holding good tenants counts for more than chasing the top of the market.
Voids hold at almost four weeks
A void of almost four weeks is the price of friction between tenancies: cleaning, repairs, viewings and referencing all eat into the rent roll. Against 121 new registrations per branch, the demand to fill gaps is plainly there, which points to pricing and readiness rather than a shortage of applicants when a home sits empty.
The branch-level pressure matches what agents told RICS in September, when tenant demand hit a +23 balance while landlord instructions kept falling. Propertymark’s August count of applicants per office adds weight to that picture from the agency side of the desk.
Nathan Emerson, chief executive of Propertymark, said the rental market shows how sharp the supply problem remains. “Tenant demand is still placing considerable pressure on the homes available, while landlords are making increasingly careful decisions about whether and how they participate in the market,” he said.
Sales market turns cautious on pricing
On the sales side, August was a month for realism rather than retreat. Buyer registrations slipped to 69 per branch while supply held at 10.8 homes on the market per branch, and more sales needed negotiation to get over the line. Emerson said the gap between what buyers will pay and what sellers will accept is now the key issue for the industry.
Slow conveyancing adds to the drag. A sale agreed is only one milestone, and long waits before exchange leave chains open to disruption. Even as Propertymark’s September tracker showed rents easing in 10 of 11 regions, applicant numbers kept climbing, which suggests demand is firm even where headline rents cool.
This follows Landlord Knowledge’s report on the September RICS lettings survey, which found rent expectations still rising on weak landlord supply. The August branch data fills in the detail behind that survey balance: more house-hunters per office, voids steady near a month, and sellers on the sales side having to price to meet buyers.
Propertymark published the full August 2026 Housing Insight Report on 12 October, covering both sales and lettings across England, Scotland, Wales and Northern Ireland.
What this means for landlords
- If you are re-letting this autumn: 121 applicants per branch means strong interest for well-priced homes, so set the rent to let within two weeks rather than testing the ceiling.
- If you have an empty property: a four-week average void is the benchmark to beat – line up cleaning, safety checks and viewings before the old tenancy ends.
- Watch for: further negotiation on sales prices, which may tempt accidental landlords to stay in the rental market rather than sell into a cautious market.
- Bottom line: demand is not the problem, friction is – the landlords who gain most will be those who turn homes around fastest.
Editor’s view
Agents are telling the same story from two directions: queues of tenants on one side, careful buyers on the other. Landlords should read that as a holding signal. Keep rents realistic, keep voids short, and let the supply shortage do the work.
Author: Editorial Team – UK landlord & buy-to-let news, policy, and finance
Published: 13 October 2026
Sources: Propertymark Housing Insight Report August 2026
Related reading: RICS: tenant demand hits +23% as landlord supply stays tight
