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

U.S. Producer Prices Unexpectedly Flat In July, Annual Growth Slows To 4.7% (02 hr(s), 43 min(s), 18 sec(s) ago)
(RTTNews) - A report released by the Labor Department on Thursday showed producer prices in the U. ...Full Story»

U.S. Jobless Claims Climb More Than Expected To 209,000 (03 hr(s), 09 min(s), 18 sec(s) ago)
(RTTNews) - First-time claims for U.S. unemployment benefits climbed by more than expected in the ...Full Story»

Turkey Current Account Gap Widens In June (04 hr(s), 0 min(s),18 sec(s) ago)
(RTTNews) - Turkey's current account deficit increased in June from the previous year, accordi ...Full Story»

U.S. Producer Prices Unexpectedly Unchanged In July (04 hr(s), 18 min(s), 18 sec(s) ago)
(RTTNews) - A report released by the Labor Department on Thursday showed producer prices in the U. ...Full Story»

U.S. Weekly Jobless Claims Climb More Than Expected (04 hr(s), 21 min(s), 18 sec(s) ago)
(RTTNews) - First-time claims for U.S. unemployment benefits climbed by more than expected in the ...Full Story»

Croatia Producer Price Inflation Eases To 4.9% (05 hr(s), 29 min(s), 18 sec(s) ago)
(RTTNews) - Croatia's producer price inflation eased for the second straight month in July, fi ...Full Story»

Norway Keeps Key Interest Rate Unchanged (05 hr(s), 53 min(s), 18 sec(s) ago)
(RTTNews) - Norges Bank left its key interest rate unchanged on Thursday but kept the door open fo ...Full Story»

Irish Inflation Remains Stable At 3.4% (05 hr(s), 55 min(s), 18 sec(s) ago)
(RTTNews) - Ireland's consumer price inflation held steady in July after easing in the previou ...Full Story»