One of the biggest talking points this week has been the 11% week-on-week drop in sales agreed and a drop of 2% on the average asking price of a newly listed properties. While some seasonal softening is entirely normal during the summer holiday period, the scale of this fall has caught the attention of the property industry.

The UK housing market continued to shift in favour of buyers throughout May, as transaction levels softened slightly and supply continued to outweigh demand in many areas. While headlines may focus on small percentage changes, the underlying story is far more significant.

In a landmark speech delivered in Manchester, Andy Burnham set out an ambitious vision that could significantly reshape the housing landscape. Phe unveiled plans for what he described as the largest council housebuilding programme since the post-war period—alongside a broader strategy to rebalance power, investment and opportunity across the UK.

Britain’s ongoing housing shortage has once again come under the spotlight, with new research highlighting that the issue is not one of demand or land availability—but rather decades of underbuilding.