UK House Prices Fall for First Time Since 2023

The Lloyds House Price Index showed UK house prices fell 0.4% year-on-year in August 2026, marking the first annual decline since November 2023, after rising 0.1% in July. Compared with the previous month, prices fell 0.2%, defying expectations of a 0.2% rise and following a 0.1% decrease in July, bringing the average property price to £298,468. Lloyds Mortgages Director Andrew Asaam said the housing market has faced a more difficult backdrop in recent months, with global events affecting inflation and borrowing costs, while fewer homes are changing hands as buyers and sellers remain cautious. Lloyds expects the market to remain fairly subdued in the months ahead, although wage growth and resilient employment should support demand. Regionally, Northern Ireland recorded the strongest annual growth at 6.9%, followed by Scotland at 3.5%, the North East at 2.7%, and the North West at 2.0%. Meanwhile, the South East posted the largest decline at 1.6%, followed by Greater London at 1.5%.






