Welcome to Yorkshire
Published on August 7th, 2026
•House prices in the UK remained stable during July 2026, according to the latest Lloyds House Price Index. The average property price was recorded at £299,253, showing no change from June, where prices had seen a slight increase of 0.2%. This stability comes amid ongoing global uncertainties that have affected various sectors of the economy.
House Prices Remain Steady
In July, the average house price decreased marginally by just £143, indicating that the housing market is holding steady despite economic challenges.
The annual growth rate of just 0.1% marks the slowest increase since November 2023, reflecting a cautious market. Over the last two years, average house prices have fluctuated within a narrow range, with only a 0.5% increase since November 2024.
Amanda Bryden, Head of Mortgages at Lloyds, commented on the current state of the housing market:
“The UK housing market remained steady in July... Affordability remains a challenge for many would-be buyers, and... mortgage rates have edged higher again after easing earlier in the summer.”
Regional Highlights
When looking at different regions across the UK, notable differences in house price growth are apparent:
Northern Ireland continues to lead the way with an impressive annual growth rate of 7.4%, bringing the average property price to £231,131.
Scotland also shows solid growth, with prices up by 3.6% year-on-year, averaging £223,246.
In Wales, the annual growth stands at 1.6%, resulting in a typical property value of £231,458.
In England, the northern regions are seeing stronger price growth. The North East recorded a 2.8% annual increase, with average prices at £182,488, while the North West saw a 2.1% rise to £247,836.
Conversely, the southern parts of England are experiencing weaker markets. The South East has seen prices fall by 2.0%, averaging £381,146, and Greater London recorded a 1.3% decline, bringing the average price to £533,930.
Market Activity and Future Outlook
Despite the current stability in house prices, market activity has shown signs of life. There was a modest increase in both mortgage approvals and completed transactions in June, following a dip in May. This suggests that while demand for housing remains steady, it is closely tied to changes in mortgage rates.
Looking ahead, Bryden expressed cautious optimism about the housing market:
“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.
