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

Slovenian Producer Price Inflation Accelerates To Near 3-Year Peak (01 hr(s), 15 min(s), 47 sec(s) ago)
(RTTNews) - Slovenia's producer price inflation accelerated further in June to the highest lev ...Full Story»

Croatia Jobless Rate Falls To Record Low (01 hr(s), 40 min(s), 47 sec(s) ago)
(RTTNews) - Croatia's unemployment rate decreased further to a record low at the end of the se ...Full Story»

Spain Trade Gap Widens In May (02 hr(s), 22 min(s), 47 sec(s) ago)
(RTTNews) - Spain's foreign trade deficit increased in May from a year ago as exports fell ami ...Full Story»

Hong Kong Inflation Remains Stable At 2.0% (02 hr(s), 46 min(s), 47 sec(s) ago)
(RTTNews) - Hong Kong's consumer price inflation held steady in June after accelerating to a 1 ...Full Story»

German ZEW Economic Confidence Rises To 5-month High (03 hr(s), 47 min(s), 47 sec(s) ago)
(RTTNews) - Germany's economic confidence strengthened more-than-expected in July to the highe ...Full Story»

UK Jobless Rate Remains Stable At 4.9% (04 hr(s), 08 min(s), 47 sec(s) ago)
(RTTNews) - The UK unemployment rate unexpectedly held steady in the three months to May, the Offi ...Full Story»

Taiwan Export Order Growth Quickens To 59.4% In June (05 hr(s), 37 min(s), 47 sec(s) ago)
(RTTNews) - Taiwan's export order growth rebounded markedly at the end of the second quarter, ...Full Story»

Norway Jobless Rate Rises To 4.5% (06 hr(s), 40 min(s), 47 sec(s) ago)
(RTTNews) - Norway's unemployment rate increased slightly in June after falling in the previou ...Full Story»