US EditionPublished • loading... • Updated
UK house prices fall as Iran war uncertainty dampens demand
Annual growth slowed to 0.8% as higher mortgage rates and weaker demand cooled the market, Halifax said.
- On Wednesday, mortgage lender Halifax reported that average UK house prices fell 0.5% month on month in March, marking the first monthly decline of 2026 with the average property value now £299,677.
- Amanda Bryden, head of mortgages at Halifax, attributed the slowdown to "wide uncertainty regarding the conflict in the Middle East," as rising energy prices pushed inflation expectations and mortgage rates higher.
- Regional performance diverged sharply, with London seeing average values fall 1.2% to £536,751, while the North East recorded a 5% annual price increase, reaching £184,119.
- Nathan Emerson, chief executive officer of Propertymark, noted that numerous sub-4% mortgage deals were withdrawn over recent weeks as the wider economy adjusts to uncertainties.
- Tom Bill, head of UK residential research at Knight Frank, said mortgage rates "won't snap back to where they were in February," predicting geopolitical risk will constrain demand and house prices this year.
Insights by Ground AI
26 Articles
26 Articles
UK house prices fall by 0.5% as Iran conflict sparks 'wide uncertainty'
Property values across the United Kingdom declined by 0.5 per cent last month, according to figures released by Halifax, Britain's largest mortgage lender.The typical home now commands a price of £299,677, with yearly growth also losing pace.Halifax attributed the downturn to elevated mortgage rates, themselves a consequence of the ongoing Iran conflict's destabilising effect on global markets.Rising energy costs stemming from the Middle Eastern…
·London, United Kingdom
Read Full Article
Coverage Details
Total News Sources26
Leaning Left3Leaning Right1Center7Last UpdatedBias Distribution64% Center
Bias Distribution
- 64% of the sources are Center
64% Center
L 27%
C 64%
Factuality
To view factuality data please Upgrade to Premium
