UK Housing Market Weakens as House Prices Record First Annual Fall
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3 days ago
1 min read
UK: UK house prices recorded their first annual decline in nearly three years in August 2026, with prices falling 0.4% year-on-year and 0.2% month-on-month, according to Lloyds. The slowdown reflects higher mortgage rates, rising inflation, affordability pressures and geopolitical uncertainty. London and the South East were the hardest-hit regions, with prices declining by 1.5% and 1.6%, respectively. In contrast, Northern Ireland, Scotland and Wales recorded growth of 6.9%, 3.5% and 0.6%. Mortgage approvals have also weakened, indicating softer housing demand and a cautious approach among buyers.
Source: The Times of India
