House Price Index Sep 2026
Higher mortgage rates over the summer have increased the cost of buying a home, with buyer demand and transactions falling over the past month. Meanwhile, the number of homes for sale is 5% higher than a year ago, and sales are taking longer to agree, putting downward pressure on house prices. With borrowing costs expected to remain elevated while the Middle East conflict continues, house price inflation and market activity are likely to remain muted in the near term.
What’s happening nationally
House prices are unchanged over the past month and up +0.6% over the past year.
House prices across the indices have remained steady this month. Land Registry reporting August figures +0.3%, Nationwide -0.2% in September, 0% reported by Halifax in September and Rightmove +0.7% reports a slight rise in September 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 0.6% from 0.8% last month. The indices report the following shifts in annual house price growth over the past month: Land Registry (0.9% vs 1.4%), Nationwide (0.8% vs 1.4%), Halifax (0% vs -0.4%) and Rightmove reporting asking prices (-0.8% vs -1%).
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 | +0.3% | +0.9% |
| Nationwide | -0.2% | +0.8% |
| Lloyds (formerly Halifax) | 0.0% | +0.0% |
| Rightmove | +0.7% | -0.8% |
| Average change | +0.0% | +0.6% |
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 (3.1%), Scotland (0.9%) and England (0.2%).
Annual house prices are up modestly in most regions in England, apart from London (-2.2%), the South East (-0.8%) and South West (0%) where house prices are stable or down slightly. The areas with highest annual growth in England include: the North East (+3.2%), North West (+2.2%) and Yorkshire & Humber (+1.8%).
Most expensive/ cheapest areas
In terms of average house price, the most expensive regions in the UK are London (£554K), the South East (£380K) and the East of England (£338K). The cheapest regions are the North East of England (£166K), Scotland (£198K), Northern Ireland (£203K), Yorkshire & Humber (£209K) and Wales (£216K).
In terms of cities, the most affordable are: Aberdeen (£130K), Glasgow (£168K), Newcastle (£166K) and Sheffield (£180K). And, the most expensive cities in the UK are: London (£525K), Cambridge (£456K), Oxford (£449K), Bristol (£342K) and Bournemouth (£314K).
Prices by property type
House prices shifted in the last year for detached (+0.7%), semi-detached (+2.1%), terraced (+1.8%) properties and for flats/ maisonettes (-1.6%).
| 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
August 2026 transactions of 95.2K vs 96.7K in July are down -1.5% and down -2% vs transactions August 2025 (97K). Transactions remain below the historic average.
In September 2026 with the rise in interest rate expectations, buyer demand softened further. Zoopla estimates year to date sales agreed to be 9% lower this year.
RICS says new listings for sale increased in September and Zoopla reports that homes for sale are 5% higher than a year ago.
The average time to secure a buyer is currently 67 days according to Rightmove The average over the last 12 months has been just above this at 68 days.
How busy is the market?
- Not busy
- Normal
- Very busy
- Transactions in Aug 2026 are down and lower than typical levels
- Total transactions in Aug 95.2K
- -1.5% versus last month
- -2% vs last August
Homes for sale vs homebuyers
- Good availability of homes
- Normal
- Shortage of homes
- Buyer enquiries fall again (-22% RICS Sep)
- Seller instructions up (+6% RICS Sep)
- Average stock per agent 65 in Sep same as last month (incl under offer/ Sold STC Rightmove)
Average speed of sale
- Fast
- Normal
- Slow
- September 67 days vs 64 days last month; similar to the 12 month average of 68 days (Rightmove)
What the experts say
Rightmove
“Average newly-listed asking prices rise by 0.7% (+£2,441) this month to £367,440, the first monthly price increase since May. September’s above-average price increase for the time of year is a possible early sign of the usual Autumn bounce in activity, though there is considerable ground to make up after a somewhat subdued and distracted summer. Sellers still face a very crowded market, with the number of homes available to purchase at a 12-year high. Buying activity has also seen an expected bounce from August into September, as the holiday season ends. However, the number of buyers enquiring across the market is still 9% lower than this time last year. The number of newly-listed properties for sale is 3% down on this time last year, while sales agreed are 9% lower annually.”
Nationwide
“September saw UK annual house price growth halve to 0.8%, the weakest rate of growth since December 2025. Prices were down 0.2% month-on-month, after taking account of seasonal effects. 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, fanning inflation concerns. This in turn has led to mounting financial market expectations of Bank Rate increases, which has maintained upward pressure on the market interest rates which underpin mortgage pricing.”
Zoopla (Hometrack)
“Higher mortgage rates over the summer have pushed up the cost of buying a home, contributing to a 9% fall in the number of sales being agreed compared to last year. Annual house price growth to the end of August has also slowed to 0.8 per cent, the lowest for over 2 years. The Middle East conflict has pushed up energy prices and mortgage rates, tempering the autumn rebound in housing activity. Average mortgage rates for a typical loan have hit 5.2% at the end of September, their highest level for 3 years, up from 4 per cent at the start of the year. While sales agreed are failing to keep pace with last year, the number of homes for sale is 5% higher than a year ago, boosting choice for buyers. Borrowing costs are likely to remain elevated, with price inflation drifting towards 0.5% by year-end and annual sales expected to be closer to 1.1 million.”
Lloyds (formerly Halifax)
“While the market overall has been fairly subdued, property prices have so far proved resilient during a period of higher mortgage rates, which has been driven by changing expectations around the future path of Base Rate . That’s mirrored in wider economic data, with household spending holding up better than many expected despite energy and other cost pressures arising from the Middle East conflict. Whether that picture continues is likely to depend on how confident consumers feel that the latest cost of living pressures will prove temporary. Confidence has long been a key driver of housing market activity, and will play an important role in shaping demand over the remainder of this year and into 2027.”
RICS
“The September 2026 RICS UK Residential Market Survey feedback suggests that the recent rise in interest rate expectations has stalled the previous run of slightly less negative results, with measures of buyer demand and sales activity turning marginally weaker over the month. That said, despite this setback, the latest readings remain less downbeat than the lows recorded earlier in the year. Looking ahead, while the near-term outlook appears to have become a little more pessimistic, the twelve-month view remains that the market will stabilise further ahead.”
