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Prices in UK housing market flat in July as Iran war weighs
Lloyds said the average property value was unchanged from June, as lenders raised rates and buyer confidence weakened.
- The average UK house price flatlined in July with no growth compared to the previous month, according to the monthly Lloyds house price index, with the average property value at £299,253.
- Mortgage rates have edged higher in recent weeks despite the Bank of England holding the base rate at 3.75%, with the Bank cautioning that inflation may rise by year-end due to the Iran war.
- Regional performance varied significantly, with Northern Ireland prices up 7.4%, Scotland rising 3.6%, and Wales increasing 1.6%, while South East prices fell 2% and Greater London declined 1.3%.
- Amanda Bryden, head of mortgages at Lloyds, said the UK housing market "remained steady" in July, noting prices have stayed just 0.5% higher than November 2024.
- Bryden expects market activity and house prices to remain relatively stable over the remainder of the year, though sellers may need to price realistically to navigate softer market conditions.
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Total News Sources14
Leaning Left1Leaning Right2Center6Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
11%
C 67%
R 22%
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