Annual house price growth eases in July - Nationwide

31st Jul 2026 07:45

(Sharecast News) - Annual house price growth eased in July, according to figures released on Friday by Nationwide.

House prices rose 1.8% on the year, down from 2.2% growth in June. On the month, prices were up 0.1% in June, following no growth the month before.

The average price of a home was £277,542 in July, up from £277,484.

Nationwide chief economist Robert Gardner said: "Market activity and house prices have remained soft in recent months, in part reflecting the uncertain economic backdrop. Geopolitical tensions remain high, with the conflict between Iran and the US again exerting upward pressure on energy prices and market interest rates in recent weeks. Financial market expectations for the future path of Bank Rate have been volatile, reflecting shifting views about the inflationary implications of events at home and abroad.

"Despite the ongoing risks from the latest energy price shock, the Monetary Policy Committee can take some comfort from the fact that consumer price inflation declined further in June. Signs that wage growth has continued to ease gives policymakers more breathing space to assess the extent to which tighter policy is necessary to ensure inflation returns to target."

On Thursday, the Bank of England kept interest rates unchanged as widely expected, although three policymakers voted for tighter monetary policy amid concerns over energy prices and persistent inflationary pressures.

The nine-person Monetary Policy Committee voted six to three to maintain Bank Rate at 3.75%, with Megan Greene, Catherine Mann and Huw Pill preferring a 25-basis-point rise to 4%.

The Bank highlighted that crude and refined energy prices had remained volatile and above levels seen before the conflict in the Middle East, leaving the impact of the energy shock on the UK economy uncertain.