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UK monthly house prices fall for first time since start of Iran war, Nationwide says
Annual house price growth also slowed to 1.7% as higher energy prices, market rates and weaker confidence weighed on buyers, Nationwide said.
- Nationwide Building Society reported UK house prices fell 0.6% in May, the first monthly decline since December 2025. Annual growth slowed to 1.7% from 3.0% in April, with the average house price at £278,024.
- Developments in the Middle East have contributed to economic uncertainty, dampening market momentum. Robert Gardner, Nationwide's chief economist, warned that economic growth is likely to be weaker this year as a result.
- Tom Bill, head of UK residential research at Knight Frank, described the current environment as a "buyers' market," noting the housing market slowed at a time when momentum typically builds.
- Mortgage rates will continue to dictate market pace, according to Ian Futcher, a financial planner at Quilter. Martin Beck of WPI Strategy added that affordability remains stretched, leaving the market vulnerable.
- Despite softening momentum, Jason Tebb, president of OnTheMarket, emphasized that the housing market continues to demonstrate resilience, supported by solid household finances and substantial savings buffers.
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28 Articles
28 Articles
Coverage Details
Total News Sources28
Leaning Left6Leaning Right2Center3Last UpdatedBias Distribution55% Left
Bias Distribution
- 55% of the sources lean Left
55% Left
L 55%
C 27%
R 18%
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