UK House Prices Fall for First Time Since 2023

2026-09-07 06:06 By Kyrie Dichosa 1 min. read

The Lloyds House Price Index showed UK house prices fell 0.4% year-on-year in August 2026, marking the first annual decline since November 2023, after rising 0.1% in July.

Compared with the previous month, prices fell 0.2%, defying expectations of a 0.2% rise and following a 0.1% decrease in July, bringing the average property price to £298,468.

Lloyds Mortgages Director Andrew Asaam said the housing market has faced a more difficult backdrop in recent months, with global events affecting inflation and borrowing costs, while fewer homes are changing hands as buyers and sellers remain cautious.

Lloyds expects the market to remain fairly subdued in the months ahead, although wage growth and resilient employment should support demand.

Regionally, Northern Ireland recorded the strongest annual growth at 6.9%, followed by Scotland at 3.5%, the North East at 2.7%, and the North West at 2.0%.

Meanwhile, the South East posted the largest decline at 1.6%, followed by Greater London at 1.5%.



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UK House Prices Stagnate in September
The Lloyds House Price Index showed UK house prices were unchanged year-on-year in September 2026, following a 0.4% decline in August. On a monthly basis, prices were also unchanged after falling 0.3% in August, missing expectations for a 0.2% increase, while the average property price rose to £298,441. Lloyds Mortgages Director Andrew Asaam said property prices have remained resilient despite higher mortgage rates and wider economic uncertainty, while new enquiries from prospective buyers reached their highest level since February. He added that the market remains balanced between buyer caution and underlying demand, with price movements likely to remain modest. Regionally, Northern Ireland recorded the strongest annual growth at 7.4%, followed by Scotland at 3.4%, the North East at 2.4%, and the North West at 1.9%. Meanwhile, Greater London posted the largest decline at 2.2%, followed by the South East at 2.1% and Eastern England at 1.6%.
2026-10-07
UK House Prices Fall for First Time Since 2023
The Lloyds House Price Index showed UK house prices fell 0.4% year-on-year in August 2026, marking the first annual decline since November 2023, after rising 0.1% in July. Compared with the previous month, prices fell 0.2%, defying expectations of a 0.2% rise and following a 0.1% decrease in July, bringing the average property price to £298,468. Lloyds Mortgages Director Andrew Asaam said the housing market has faced a more difficult backdrop in recent months, with global events affecting inflation and borrowing costs, while fewer homes are changing hands as buyers and sellers remain cautious. Lloyds expects the market to remain fairly subdued in the months ahead, although wage growth and resilient employment should support demand. Regionally, Northern Ireland recorded the strongest annual growth at 6.9%, followed by Scotland at 3.5%, the North East at 2.7%, and the North West at 2.0%. Meanwhile, the South East posted the largest decline at 1.6%, followed by Greater London at 1.5%.
2026-09-07
UK House Price Growth Lowest Since 2023
The Lloyds House Price Index showed UK house prices rose 0.1% year-on-year in July 2026, slowing from a revised 0.7% increase in June and below expectations for a 0.4% gain. This marked the weakest annual growth since November 2023. Monthly, house prices were unchanged after rising 0.2% in June, leaving the average property price at £299,253. Amanda Bryden, Head of Mortgages at Lloyds, said prices have remained relatively stable for almost two years despite a more uncertain economic backdrop. Affordability remained challenging, while mortgage rates edged higher following recent Middle East events after easing earlier in the summer. Lloyds expects prices and activity to remain stable through year-end, with the outlook shaped by mortgage rates, inflation and household confidence. Regionally, Northern Ireland recorded the strongest annual growth at 7.4%, followed by Scotland at 3.6%, the North East at 2.8%, and the North West at 2.1%.
2026-08-07