UK house prices post first monthly fall of 2026, down 0.6% in May — Nationwide

Nationwide reported UK house prices fell 0.6% in May, the first monthly drop of 2026, with annual growth slowing to 1.7% from 3.0% in April and the average price easing to £278,024. Chief economist Robert Gardner linked the loss of momentum to higher energy prices and rising market interest rates feeding into mortgage costs. For buyers, that means a little more negotiating room; for sellers, a reason to price realistically rather than bank on early-year growth. It is a modest easing, not a slump — annual growth is still positive.