Overview
- Rightmove found whole new-build housing schemes coming to market in May 2026 were at their lowest level since January 2017, signalling a near‑ten‑year low in fresh supply.
- Across the wider market the number of properties for sale is about 85% higher than four years ago, but Rightmove says this increase masks a persistent shortage of affordable homes in the locations first‑time buyers need.
- Industry data from S&P Global showed construction activity contracted sharply in May, with builders reporting project delays, cutbacks to client budgets and reluctance to make large investment decisions.
- Major housebuilders told reporters that rising regulatory compliance costs, higher borrowing rates and weak buyer confidence are constraining delivery, and Rightmove has urged scrapping stamp duty for first‑time buyers on new and resale homes.
- Proposals to overhaul property taxation, including annual levies or a land value tax, are under political discussion but have not been adopted as policy, leaving ministers with choices to make if they aim to meet the 1.5 million target and ease pressure on first‑time buyers.