UK house prices stall amid rising mortgage rates

UK house prices mortgage rates Lloyds Bank of England regional price changes

The average UK house price flatlined in July at £299,253, a rise of only 0.1% compared with a year earlier – the weakest annual increase since November 2023. Regional data showed the strongest growth in Northern Ireland, where prices rose 7.4% year‑on‑year to £231,131, while Scotland and Wales recorded modest gains of 3.6% and 1.6% respectively. In contrast, the south‑east saw prices fall 2% and Greater London slipped 1.3% month‑on‑month, indicating weakening demand in the south.

Mortgage rates have edged higher after a brief easing earlier in the summer, despite the Bank of England keeping its base rate unchanged at 3.75%. The central bank warned that inflation could rise by year‑end due to the conflict in Iran. Lloyds’ head of mortgages, Amanda Bryden, said the market has remained steady for almost two years, with prices now about 0.5% higher than in November 2024, and she expects activity and prices to stay relatively stable for the remainder of the year.

Entities

Amanda Bryden · Bank of England · Lloyds Banking Group · United Kingdom

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[● 3 SOURCES] Wales house price growth was 1.6% year‑on‑year. ca.news.yahoo.com · www.independent.co.uk · www.standard.co.uk
[● 3 SOURCES] Greater London house prices fell 1.3% month‑on‑month. ca.news.yahoo.com · www.independent.co.uk · www.standard.co.uk
[● 3 SOURCES] Scotland house price growth was 3.6% year‑on‑year. ca.news.yahoo.com · www.independent.co.uk · www.standard.co.uk
[● 3 SOURCES] The average UK house price in July was £299,253. ca.news.yahoo.com · www.independent.co.uk · www.standard.co.uk
[● 3 SOURCES] South‑east house prices fell 2% month‑on‑month. ca.news.yahoo.com · www.independent.co.uk · www.standard.co.uk
[● 3 SOURCES] Northern Ireland house prices rose 7.4% year‑on‑year to £231,131. ca.news.yahoo.com · www.independent.co.uk · www.standard.co.uk
[● 3 SOURCES] The Bank of England kept its base rate unchanged at 3.75%. ca.news.yahoo.com · www.independent.co.uk · www.standard.co.uk
[● 3 SOURCES] House price growth year‑on‑year was 0.1%, the weakest since November 2023. ca.news.yahoo.com · www.independent.co.uk · www.standard.co.uk

Sources

İngiltere'de konut fiyatları dört ay sonra yükseldi | EKOTÜRK [www.ekoturk.com]

4 days ago

Mortgage Squeeze Returns as House Prices Stall: Are Borrowers Facing Another Difficult Autumn? [caithness-business.co.uk]

4 days ago

UK house prices stagnant amid high mortgage costs [ca.news.yahoo.com]

4 days ago

House prices flatlined in July: Lloyds HPI [www.mortgagestrategy.co.uk]

4 days ago

‘Mass exodus’: Buyers flee housing market [www.perthnow.com.au]

3 days ago

UK house prices stagnant amid high mortgage costs [www.independent.co.uk]

4 days ago

UK house prices stagnant amid high mortgage costs [www.standard.co.uk]

4 days ago