UK house prices fell 0.2% MoM and 0.4% YoY in August, the first annual decline since November 2023. Average price was £298,468 versus £299,153 in July. Mortgage approvals last week fell to their lowest level since early 2024. Lloyds Bank’s head of mortgages Andrew Asaam said the market is likely to remain subdued for several months but the impact on prices may be limited, with ongoing wage growth and stronger-than-expected employment supporting demand from buyers looking to move.

2026-09-07

UK house prices fell 0.2% MoM and 0.4% YoY in August, the first annual decline since November 2023. Average price was £298,468 versus £299,153 in July. Mortgage approvals last week fell to their lowest level since early 2024. Lloyds Bank’s head of mortgages Andrew Asaam said the market is likely to remain subdued for several months but the impact on prices may be limited, with ongoing wage growth and stronger-than-expected employment supporting demand from buyers looking to move.