Financial News: UK House Price Growth Eases In July

UK House Price Growth Eases In July

07/31/2026 - 02:56:00 (RTTNews)

(RTTNews) - UK house prices grew at a slower pace in July as geopolitical tensions and fears of interest rate hikes weighed on property demand, data from mortgage lender Nationwide Building Society revealed Friday.

House prices registered an annual increase of 1.8 percent after rising 2.2 percent in June. Prices were expected to grow 1.9 percent.

On a monthly basis, house prices edged up 0.1 percent, as expected, following a nil growth in June.

"Market activity and house prices have remained soft in recent months, in part reflecting the uncertain economic backdrop," Nationwide's Chief Economist Robert Gardner said.

"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," added Gardner.

He observed that 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.

Nonetheless, Gardner said Bank of England policymakers can take some comfort from the fact that inflation declined further in June. Moreover, easing wage growth gave policymakers more breathing space to assess the extent to which tighter policy is necessary to bring inflation to target.

This week, the BoE maintained its interest rate in a split vote as renewed tensions in the Middle East reignited fears of high inflation becoming persistent. The committee voted 6-3 to hold the bank rate at 3.75 percent.

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