Nationwide Building Society data show UK house prices rose 0.2% in August to
£275,465, reversing a revised 0.1% decline in July and marginally beating
economists' 0.1% forecast. The reading points to some resilience in housing
demand despite the economic impact of the US‑Iran conflict. Ample household
savings and cost‑of‑living measures from Prime Minister Andy Burnham are
supporting demand, but energy costs remain elevated and prices have fallen in
two of the past four months, leaving overall sentiment vulnerable. The
Iran-related energy shock has dented hopes of rate cuts; traders now price a
25bp Bank of England rate rise by year‑end. Speculation that new Chancellor John
Healey’s first budget could include tax rises may further weigh on buyer
appetite.
