Financial News: UK House Prices Remain Flat In June

UK House Prices Remain Flat In June

07/01/2026 - 04:03:00 (RTTNews)

(RTTNews) - UK house prices remained flat in June as uncertainty caused by the war in the Middle East and the subsequent rise in fuel prices and market interest rates weighed on the property market, data from Nationwide Housing Society showed Wednesday.

House prices posted a flat growth in June following a fall of 0.6 percent in May. Prices were forecast to rise 0.1 percent.

On a yearly basis, house price growth accelerated to 2.2 percent in June from 1.7 percent in May. However, the rate fell short of the forecast of 2.4 percent increase.

Nationwide Chief Economist Robert Gardner attributed the recent softness in the housing market to geopolitical tensions and the subsequent rise in energy prices and interest rates.

Consumer sentiment and measures of housing confidence weakened and mortgage approvals declined noticeably in May.

Gardner observed that oil prices dropped back towards pre-conflict levels following the signing of the peace deal between the US and Iran.

If the energy shock continues to ease, the Bank of England may not need to raise interest rates, or at least by less than had previously been anticipated, as inflation also came in lower than expected in recent months.

"In recent weeks a shift in market expectations for the future path of Bank Rate has helped to bring down the market interest rates which underpin fixed-rate mortgage pricing," Gardner added.

"If maintained, these trends will help to restore household confidence and ease affordability constraints, paving the way for a recovery in housing market activity in the coming quarters, providing that domestic political uncertainty does not adversely impact sentiment," the economist said.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

New Zealand Trade Surplus NZ$23 Million In June (01 hr(s), 11 min(s), 02 sec(s) ago)
(RTTNews) - New Zealand posted a merchandise trade surplus of NZ$23 million in June, Statistics Ne ...Full Story»

Malaysia Trade Data Due On Monday (02 hr(s), 18 min(s), 02 sec(s) ago)
(RTTNews) - Malaysia will on Monday release June figures for imports, exports and trade balance, h ...Full Story»

U.S. Consumer Sentiment Improves Much More Than Expected In July (09 hr(s), 57 min(s), 02 sec(s) ago)
(RTTNews) - Consumer sentiment in the U.S. has improved by much more than expected in the month of ...Full Story»

U.S. Industrial Production Inches Up 0.1% In June, Slightly Less Than Expected (10 hr(s), 08 min(s), 02 sec(s) ago)
(RTTNews) - Industrial production in the U.S. edged slightly higher in the month of June, accordin ...Full Story»

U.S. Housing Starts Soar In June As Multi-Family Permits Skyrocket (10 hr(s), 17 min(s), 02 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Friday showed a substantial rebound in ...Full Story»

Hong Kong Jobless Rate Remains Stable At 3.7% (10 hr(s), 37 min(s), 02 sec(s) ago)
(RTTNews) - Hong Kong's unemployment rate held steady in the three months ending in June, labo ...Full Story»

U.S. Import Prices Unexpectedly See Further Upside In June (10 hr(s), 55 min(s), 02 sec(s) ago)
(RTTNews) - Import prices in the U.S. unexpectedly saw further upside in the month of June, accord ...Full Story»

U.S. Industrial Production Inches Up Slightly Less Than Expected In June (11 hr(s), 02 min(s), 02 sec(s) ago)
(RTTNews) - Industrial production in the U.S. edged slightly higher in the month of June, accordin ...Full Story»