UK house prices were broadly stagnant in July, with the average property costing £299,253 — down just £143 from June. Annual growth slowed to 0.1%, the weakest rate since November 2023.
Regional disparities remained sharp. Northern Ireland recorded the strongest growth at 7.4% year-on-year, while Scotland and Wales posted gains of 3.6% and 1.6% respectively. In contrast, prices fell 2% in south-east England and 1.3% in Greater London.
Borrowing costs remain elevated, with the average two-year fixed mortgage rate at 5.63% and the five-year rate at 5.67% as of Thursday, according to Moneyfacts. The Bank of England held its base rate at 3.75% through the summer, while unemployment stood at 4.9% in mid-2026 under Prime Minister Andy Burnham.