Lloyds House Price Index – July 2026

House prices stable in July despite renewed global uncertainty

  • House prices stable in July (0.0%) , following a +0.2% rise in June
  • Average property price now £299, 253 compared with £29 9,396 in June
  • Annual growth of +0.1% is the slowest rate of house price inflation since November 2023
  • Northern Ireland continues to record the UK’s strongest annual growth at +7.4%

Amanda Bryden, Head of Mortgages, Lloyds, said:

“The UK housing market remained steady in July, with the average property price effectively unchanged over the month (-£143), following a slight rise of +0.2% in June. At £299,253, the average house price is now +0.1% higher than a year ago, the slowest rate of annual growth since November 2023.

“More broadly, average house prices have remained relatively stable for almost two years, moving within a narrow range over that period and sitting just +0.5% higher than they were in November 2024. That trend has persisted even as buyers and sellers have faced a more uncertain economic backdrop this year.

“Affordability remains a challenge for many would-be buyers and, following recent events in the Middle East, mortgage rates have edged higher again after easing earlier in the summer.

“Sensitivity to borrowing costs is reflected in the latest industry data, which show a modest increase in both mortgage approvals and completed transactions in June following a bigger dip in May. While housing demand remains broadly steady, activity continues to respond quickly to changes in mortgage rates.

“Looking ahead, we expect market activity and house prices to remain relatively stable over the remainder of the year. Developments will be shaped by both how mortgage rates respond to the outlook for inflation and wider household confidence.”

Nations and regions house prices Northern Ireland remains the UK’s strongest performer, with annual house price growth of +7.4% making the average property price £231,131.

Scotland also continues to record solid growth, with prices up + 3.6 % year -on -year to an average of £223,246 . In Wales, annual growth stands at +1.6%, taking the typical property value to £231,458.

In England, stronger price growth remains concentrated in northern regions. The North East recorded annual growth of + 2.8%, taking the average property price to £182,488, while the North West saw prices rise +2.1% to £24 7,836 .

By contrast , the weakest regional markets remain in southern England . The South East saw prices fall -2.0% year -on -year to £381,146 , while Greater London recorded a -1.3% decline to £533,930.

Housing activity
  • UK residential transactions increased by +0.2 % to 98, 700 in June 2026 (seasonally adjusted). On a non – seasonally adjusted basis, transactions rose by + 11.4% over the month. In the three months to June, transactions were -1.5% lower than in the preceding three months, while volumes were + 2.5% above June 2025 levels (seasonally adjusted). (Source: HMRC)
  • Bank of England data shows mortgage approvals for house purchase rose to 58, 200 in June 2026 , up +2.9% month -on -month, although approvals remained -10.0% lower than a year earlier, suggesting a modest improvement in activity but with demand still below last year’s level. (Source: Bank of England, seasonally -adjusted figures)
  • The latest UK Residential Market Survey June 2026 shows new buyer enquiries remained weak but improved slightly, with the headline net balance moving to -29% in June from -34% in each of the previous two surveys . Newly agreed sales were also marginally less negative, at a net balance of -32% , compared with -35% previously. New instructions to sell weakened further, with the net balance falling to -23% from – 10%, pointing to a reduced flow of fresh listings coming onto the market. Overall, the survey suggests housing market activity remains subdued, although the pace of deterioration in demand and sale appears to be moderating. (Source: Royal Institution of Chartered Surveyors (RICS) monthly report).

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