UK Property Market Pulse – July 2026
Monthly UK property market data covering June 2026 figures. Prices accelerated following the BoE rate cut, with mortgage approvals at their strongest since mid-2024.
Headline
UK house prices gained momentum in June 2026 following the BoE's rate cut to 4.25%. Halifax reported the average house price at £303,200, up 3.8% year-on-year and 0.6% month-on-month. Nationwide recorded £275,900, up 3.4% annually. Mortgage approvals reached 69,100, the highest monthly total since July 2024, as cheaper borrowing costs drew more buyers into the market.
Data Table
| Metric | June 2026 | MoM | YoY | Source |
|---|---|---|---|---|
| UK average house price (Halifax) | £303,200 | +0.6% | +3.8% | Halifax |
| UK average house price (Nationwide) | £275,900 | +0.6% | +3.4% | Nationwide |
| BoE base rate | 4.25% | Unchanged | -0.50pp | Bank of England |
| Average 2-year fixed mortgage rate | 4.65% | -0.07pp | -0.87pp | Moneyfacts |
| Average 5-year fixed mortgage rate | 4.42% | -0.06pp | -0.70pp | Moneyfacts |
| Monthly mortgage approvals | 69,100 | +1.9% | +11.5% | Bank of England |
3 Key Market Signals
1) Rate cut impact visible in transaction data
The June rate cut to 4.25% has already fed through to improved buyer activity. Mortgage approvals at 69,100 represent an 11.5% year-on-year increase. RICS reported its strongest new buyer enquiries reading since early 2024, and estate agents report increased viewings and offer activity across most regions.
2) Monthly price growth picks up pace
Both Halifax and Nationwide recorded 0.6% monthly growth in June, the strongest monthly reading since spring 2024. Annual growth has now accelerated to 3.4–3.8%, comfortably above CPI inflation for the first time since mid-2022. If this pace is sustained, full-year growth could exceed forecasts.
3) Lenders competing on rates
Average 2-year fixed rates fell to 4.65% and 5-year fixes to 4.42%. Lender competition has intensified, with several high-street banks launching sub-3.80% 5-year fixes for borrowers at 60% LTV. Swap rates suggest further reductions are likely as markets price another BoE cut by August.
Regional Breakdown
| Region | Average Price | YoY Change |
|---|---|---|
| London | £543,000 | +2.1% |
| South East | £392,000 | +2.5% |
| South West | £327,000 | +3.0% |
| East of England | £357,000 | +2.8% |
| West Midlands | £262,000 | +4.0% |
| East Midlands | £247,000 | +4.2% |
| North West | £232,000 | +4.8% |
| Yorkshire & Humber | £217,000 | +4.5% |
| North East | £202,000 | +5.2% |
| Scotland | £212,000 | +4.1% |
| Wales | £222,000 | +3.6% |
| Northern Ireland | £192,000 | +5.8% |
Outlook
The BoE held at 4.25% in July, but markets are pricing an 80% probability of a further cut to 4.00% in August. If the cut materialises, mortgage rates should fall further, supporting stronger activity through the autumn. The consensus full-year forecast has been upgraded to 3–5% annual house price growth, with some forecasters now expecting the top end of that range.
Published: 1 July 2026 | By PropertyWiki Team
PropertyWiki publishes monthly UK property market data using Halifax, Nationwide, BoE and Moneyfacts data. This bulletin is for informational purposes only and does not constitute investment advice.