House Price Index Aug 2026
Overall, buyer activity is 10% lower and the number of homes for sale is up 5% compared to last year, giving buyers plenty of choice. UK House prices held steady over the past month and annual growth slowed. However, the national average masks regional variations in house prices. Prices are up by over 4% in North East and North West England but down by more than 3% in London over the past year. Growth is weaker in more expensive areas, where higher mortgage costs are having the greatest impact on affordability. Global pressures on inflation and borrowing costs have created a more challenging and uncertain market, an outlook expected to continue in the near term.
What’s happening nationally
House prices are up on average +0.1% over the past month and +0.8% over the past year.
House prices across the indices are up on average +0.1% this month. Land Registry reporting July figures +0.7%, Nationwide -0.1% in August, -0.4% reported by Halifax in August and Rightmove -2% reports a fall in August asking prices. Rightmove isn’t included in our average change as they report on asking prices not sold prices.
Annual house price growth slowed to 0.8% from 1.3% last month. The indices report the following shifts in annual house price growth over the past month: Land Registry (1.4% vs 2%), Nationwide (1.4% vs 1.8%), Halifax (-0.4% vs 0.1%) and Rightmove reporting asking prices (-1% vs -0.4%).
Indices based on:
Land Registry – registered property transactions in May.
Nationwide & Lloyds (formerly Halifax) – mortgage valuations in June.
Rightmove – asking prices posted on Rightmove in June.
*Rightmove is not included in the index average as the basis for its index is different (asking price vs agreed sale price)
| Index reports: | Monthly change | Annual change |
|---|---|---|
| Land registry | +0.1% | +2% |
| Nationwide | +0.1% | +1.8% |
| Lloyds (formerly Halifax) | 0.0% | +0.1% |
| Rightmove | -1.0% | -0.4% |
| Average change | +0.1% | +0.8% |
House prices in your area
Regional house prices
House prices in your area
Annual house price growth is higher in Northern Ireland (9.2% Q2 data) than in Wales (2.6%), Scotland (2.3%) and England (1.1%).
Annual house prices are up in most regions in England, apart from London (-3.3%) and the South West (-0.2%). The areas with highest annual growth in England include: the North East (+4.9%), North West (+4.4%) and Yorkshire & Humber (+3.0%).
Most expensive/ cheapest areas
In terms of average house price, the most expensive regions in the UK are London (£550K), the South East (£381K) and the East of England (£338K). The cheapest regions are the North East of England (£167K), Scotland (£196K), Northern Ireland (£203K), Yorkshire & Humber (£209K) and Wales (£215K).
In terms of cities, the most affordable are: Aberdeen (£133K), Glasgow (£165K), Newcastle (£165K) and Sheffield (£180K). And, the most expensive cities in the UK are: London (£525K), Cambridge (£459K), Oxford (£448K), Bristol (£341K) and Bournemouth (£316K).
Prices by property type
House prices shifted in the last year for detached (+1.6%), semi-detached (+2.9%), terraced (+2.5%) properties and for flats/ maisonettes (-2.4%).
| UK Region | Average price £ | Monthly change | Annual change |
|---|---|---|---|
| England | |||
| Nothern Ireland | |||
| Scotland | |||
| Wales | |||
| North West | |||
| Yorkshire and The Humber | |||
| North East | |||
| West Midlands | |||
| East Midlands | |||
| South West | |||
| East of England | |||
| South East | |||
| London |
| UK City | Average price | Annual change |
|---|---|---|
Market Monitor
July 2026 transactions of 96.7K vs 98.4K in June are down -1.7% and down -1% vs transactions July 2025 (97.8K). Transactions remain below the historic average.
In August 2026, buyer demand softened. Zoopla reports that higher mortgage rates have cut buying power by 9% since the start of the year, weighing on sales and prices over the summer.
RICS says new listings for sale were largely unchanged in August. Zoopla reports that the overall stock of homes for sale is 5% higher than a year ago giving buyers plenty of choice.
The average time to secure a buyer is currently 63 days according to Rightmove The average over the last 12 months has been 67 days.
How busy is the market?
- Not busy
- Normal
- Very busy
- Transactions in July 2026 are down and lower than typical levels
- Total transactions in July 96.7K
- -2% versus last month
- -2% vs last July
Homes for sale vs homebuyers
- Good availability of homes
- Normal
- Shortage of homes
- Buyer enquiries fall again (-19% RICS Aug)
- Seller instructions steady (-2% RICS Aug)
- Average stock per agent 65 in July same as last month (incl under offer/ Sold STC Rightmove)
Average speed of sale
- Fast
- Normal
- Slow
- July 65 days vs 62 days last month; faster than the 12 month average of 67 days (Rightmove)
What the experts say
Rightmove
“National averages are helpful in identifying trends over time, but increasingly this year they are masking a divided regional picture for property price growth. The northern regions of England have actually seen average new seller asking prices increase by 1.5% versus last year, while the southern regions of England have seen prices drop by 1.8%. London has seen the biggest yearly fall in prices of any part of Great Britain at -3.1%. Looking more closely at the capital, the number of available homes for sale in London is the highest it’s been in sixteen years. London is also facing a unique set of circumstances beyond just supply and demand trends. In terms of affordability, an average home in London now costs around 17 times the national average annual wage, and is 38% higher than the second-highest priced region, the South East. While high prices in London are nothing new, when combined with elevated mortgage rates, it’s a reminder of just how affordability-stretched London buyers are. Not only do Londoners also pay higher stamp duty fees overall, but last year’s reduction in thresholds, alongside the Lifetime ISA price cap of £450,000, disproportionately affects first-time buyers in London. The capital is also home to a greater share of flats, which while providing a crucial route to home-ownership for many, come with additional cost considerations and wariness from some buyers, and can lead to longer selling times and lower prices.”
Nationwide
“Market activity and house prices have remained subdued in recent months, in part reflecting the uncertain economic backdrop. Geopolitical tensions remain high, with the conflict in the Middle East exerting upward pressure on energy prices and market interest rates. Market expectations of the future path of Bank Rate have been volatile. While the latest energy price shock poses inflation risks, there have been encouraging signs that it is not feeding through to underlying price pressures. Underlying affordability is improving, as house price growth remains well below earnings growth. although some of these gains have been offset by higher mortgage rates. Nevertheless, this suggests that activity should regain momentum in the quarters ahead providing the energy shock wanes and confidence returns, especially if market interest rates fall back towards pre-conflict levels.”
Zoopla (Hometrack)
“Buyers are taking early steps back into the market, but they face plenty of choice. A steady flow of new listings means the overall stock of homes for sale is 5% higher than a year ago. This means it remains a buyer’s market and sellers will need to price sensibly to attract interest in the coming months. Mortgage rates have stabilised but remain closer to 5% than 4%, meaning affordability remains an important constraint on buyers. With plenty of homes to choose from, buyers will be able to make competitive bids this autumn. Motivated sellers will need to price carefully to attract interest, with market conditions varying widely across the country.”
Lloyds (formerly Halifax)
“The housing market has faced a more difficult backdrop in recent months, with the impact of global events on inflation and borrowing costs creating greater economic uncertainty. What we’re not seeing is a rush of homeowners cutting prices. But more are choosing to sit tight, with sellers reluctant to accept offers they feel are too low, while some buyers are waiting to see how conditions develop. As a result, fewer homes are changing hands, with latest industry figures showing mortgage approvals now at their lowest level since the start of 2024. We expect the market to remain fairly subdued in the months ahead, but this will likely only have a limited impact on house prices. While affordability remains a challenge, wages continue to grow and employment has held up better than many anticipated. This will help to support demand from those who need or want to move.”
RICS
“The August 2026 RICS UK Residential Market Survey results continue to portray a relatively challenging backdrop, with activity indicators still in negative territory, albeit gradually moving off the lows recorded earlier in the year. At the same time, the macroeconomic environment remains difficult, with recent changes in interest rate expectations likely to prove unhelpful for any budding recovery across the sales market. Nevertheless, forward-looking sentiment points to a more stable picture emerging for activity in the near term, while respondents foresee a slight improvement in sales volumes over the year ahead.”
