A detailed picture of property market activity across England, Wales and Scotland from Landmark Information Group suggests that affordability remains the key barrier to market growth.
Despite record levels of stock and competitive mortgage rates, Landmark’s analysis shows that transaction volumes slowed down in Q2 of 2025. The property data company attributes the muted momentum to ongoing readjustment following the stamp duty deadline at the end of Q1, but points out that while the data shows sign of a market recovery, affordability is preventing a growth in demand.
Completions rose by 30% over the first quarter compared to the same period in 2024, with a 79% year-on-year surge in March. In Q2, overall completion figures were 21% below the same period a year previously, but volumes had almost returned to 2024 levels by June (6% below 2024). With listing volumes up 5% on 2024, ‘the data suggests a strong ongoing desire to move’, Landmark notes.
“However, despite more stable rates and reported house price corrections, affordability remains the key barrier for buyers, holding demand from progressing and from unlocking valuable economic growth.
“Offers and completions are also lagging as affordability constraints and complications created by long chains remain.”
Landmark CEO Simon Brown added:
“This isn’t a market in decline, it’s a market in waiting. Sellers are active and the peak of activity ahead of the stamp duty change indicates an industry ready to move quickly as demand grows. The missing piece is momentum – and that will only return when affordability, rates and house prices are in balance.
“There’s opportunity here. With the right economic conditions and a continued focus on digitising the transaction process and addressing systemic inefficiencies, we can drive movement for the long-term and finally unlock the economic potential of the UK’s property market.”
