The anticipated autumn recovery in the housing market has failed to materialise, with new figures from Landmark Information Group revealing a significant decline in activity. Agreed sales across England and Wales dropped by 11% year-on-year in the third quarter of 2026, while completed transactions saw a 7% decrease.
This slowdown occurred despite a relatively stable housing supply, with new listings only 2% below the same period last year. However, increased available stock and asking-price reductions have not stimulated stronger buyer demand.
Landmark's Residential Property Trends Report suggests that rising mortgage costs and uncertainty surrounding the Autumn Budget are contributing to buyers' reluctance to commit. Mortgage valuation volumes fell 7% year-on-year in August, narrowing to a 2% decline in September.
The decline in activity also extended to the conveyancing pipeline, with search orders falling 12% year-on-year during the third quarter. Scotland experienced a similar trend, with new listings and sales agreed both declining 8% year-on-year in Q3, and completed transactions down 9%.
Former rental properties entering the sales market have contributed to housing supply, but this additional choice has done little to boost demand. Landmark Information Group's chief executive, Simon Brown, stated that the data offers limited grounds for expecting an imminent improvement, citing borrowing costs and global uncertainty as key factors.