UK Property Market Pulse – September 2026
Monthly UK property market data covering August 2026 figures. Annual growth exceeded 4% on both main indices as the market headed into an active autumn season.
Headline
The UK housing market carried strong momentum into autumn 2026. Halifax reported the average house price at £306,100, up 4.1% year-on-year. Nationwide's measure showed £278,500, up 3.8% annually. The BoE held the base rate at 4.00% at its September meeting, with the MPC signalling a data-dependent approach to further cuts. Mortgage approvals climbed to 72,500, the highest level since September 2021.
Data Table
| Metric | August 2026 | MoM | YoY | Source |
|---|---|---|---|---|
| UK average house price (Halifax) | £306,100 | +0.4% | +4.1% | Halifax |
| UK average house price (Nationwide) | £278,500 | +0.5% | +3.8% | Nationwide |
| BoE base rate | 4.00% | Unchanged | -0.75pp | Bank of England |
| Average 2-year fixed mortgage rate | 4.48% | -0.07pp | -1.04pp | Moneyfacts |
| Average 5-year fixed mortgage rate | 4.28% | -0.07pp | -0.84pp | Moneyfacts |
| Monthly mortgage approvals | 72,500 | +1.7% | +14.2% | Bank of England |
3 Key Market Signals
1) Annual growth above 4% on both indices
Halifax at 4.1% and Nationwide at 3.8% confirm the market is in a sustained recovery. Annual growth has now been positive for 12 consecutive months and has accelerated in each of the last four months. The average UK house price on the Halifax measure is now above £306,000, a new record high.
2) Mortgage rates approaching the low-4% range
Average 2-year fixed rates at 4.48% and 5-year fixes at 4.28% are now more than 1 percentage point below their 2024 peaks. Best-buy products for borrowers at 60% LTV are available below 3.60% on 5-year terms. The rate decline is broadening affordability and allowing more buyers to pass lender stress tests.
3) Approvals at 5-year highs signal strong autumn
Mortgage approvals at 72,500 are up 14.2% year-on-year and represent the highest monthly total since September 2021. Leading indicators - RICS new buyer enquiries, Rightmove listing views and mortgage application volumes - all point to a busy autumn market. Supply remains relatively constrained, with new listings growth lagging demand.
Regional Breakdown
| Region | Average Price | YoY Change |
|---|---|---|
| London | £552,000 | +2.6% |
| South East | £398,000 | +3.0% |
| South West | £333,000 | +3.5% |
| East of England | £363,000 | +3.2% |
| West Midlands | £268,000 | +4.5% |
| East Midlands | £253,000 | +4.8% |
| North West | £238,000 | +5.2% |
| Yorkshire & Humber | £223,000 | +5.0% |
| North East | £208,000 | +5.8% |
| Scotland | £218,000 | +4.6% |
| Wales | £228,000 | +4.0% |
| Northern Ireland | £198,000 | +6.2% |
Outlook
The market enters autumn 2026 with strong fundamentals: falling mortgage rates, rising transaction volumes and steady price growth. The BoE is expected to hold at 4.00% through the remainder of the year, with a further cut to 3.75% not anticipated until early 2027. The consensus full-year forecast is now 4–5% annual house price growth. The main risk remains a potential reacceleration in services inflation, which could delay further rate cuts and temper buyer sentiment.
Published: 1 September 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.