UK house price growth slows to 1.4% in July as London prices fall 3.3% over the year

The ONS reported on 16 September that the average UK house price rose 1.4% in the year to July 2026 to £273,000, down from 1.5% in June, with the North East strongest at 4.9% and London weakest at a 3.3% annual fall. Private rents rose 3.8% in the year to August to an average of £1,400 a month, a touch faster than July's 3.7%. Higher mortgage costs are capping what buyers can bid, which keeps price growth low even as rents continue to climb. For sellers, pricing close to local evidence matters more than national headlines, and for buyers outside the North the market is holding steady rather than running away. These are official figures that lag agreed sales by several months, so they do not yet reflect this month's lender rate rises.