House Price History

Keep up to date with UK house prices and how the property market has changed over time.

We regularly update this page using data from the Lloyds House Price Index, Nationwide House Price Index and the official UK House Price Index (UK HPI) to provide a straightforward overview of average property prices and house price growth across the UK.

Because each index uses different data and methodologies, the figures will not always be the same. Comparing all three can provide a broader view of what is happening in the UK housing market.

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Current UK House Prices

The Lloyds House Price Index reported an average UK property price of £298,468 in August 2026. This was 0.2% lower than the previous month and 0.4% lower than a year earlier.

The Nationwide House Price Index reported an average UK house price of £274,251 in September 2026. Prices fell by 0.2% during the month, while annual house price growth remained positive at 0.8%.

The latest UK House Price Index (UK HPI), which is based on completed property transactions and includes Land Registry data, reported an average UK property price of £272,611 in July 2026. This represented a 0.7% monthly increase and 1.4% annual growth.

For our latest commentary on Bank Rate, mortgage rates, inflation and the wider housing market, visit our Mortgage & Housing Market Update.

Why Do Lloyds, Nationwide and the UK HPI Show Different House Prices?

The latest figures cover different periods because the indices are published at different times. Lloyds and Nationwide use mortgage-based data and are generally available sooner, while the UK HPI is based largely on completed property transactions and is published later.

For this reason, there is no single “correct” average UK house price. Each index measures a different sample of transactions and may report a different average price or rate of growth.

Lloyds House Price Index

The Lloyds House Price Index (HPI) tracks changes in UK residential property prices using mortgage transaction data from Lloyds and Halifax.

Until July 2026, it was known as the Halifax House Price Index. The name changed following the Halifax rebrand, but the methodology remained the same and the index was already calculated using both Halifax and Lloyds mortgage data.

The index has historical data going back to January 1983, making it one of the UK’s longest-running measures of house prices.

Latest Lloyds House Price Index

	Latest Lloyds HPI
Average house price	£298,468
Period	August 2026
Monthly change	−0.2%
Annual change	−0.4%

Nationwide House Price Index

The Nationwide House Price Index tracks changes in UK residential property prices using mortgages approved by Nationwide Building Society.

Because it is based on Nationwide’s mortgage lending, it does not represent every property transaction in the UK and does not include cash-only purchases.

Like Lloyds, however, it provides a relatively timely indication of movements in the mortgage-funded housing market.

Latest Nationwide House Price Index

	Latest Nationwide HPI
Average house price	£274,251
Period	September 2026
Monthly change	−0.2%
Annual change	+0.8%

UK House Price Index – HM Land Registry

The UK House Price Index (UK HPI) measures changes in the value of residential property using completed housing transactions.

For England and Wales, one of the main sources is HM Land Registry, alongside data from Registers of Scotland and Northern Ireland. The index is calculated using official property transaction and property-characteristic data.

Unlike Lloyds and Nationwide, the UK HPI includes both cash and mortgage-funded transactions. This gives it wider market coverage, although there is a greater delay between a sale taking place and the figures being published.

Recent UK HPI figures are also provisional and can be revised as additional transactions are registered.

Latest UK House Price Index

	Latest UK HPI
Average UK house price	£272,611
Period	July 2026
Monthly change	+0.7%
Annual change	+1.4%
Next release	21 October 2026

House Price History 2026

Month	Lloyds HPI (formerly Halifax)	Nationwide HPI	UK HPI / Land Registry
September 2026	—	£274,251	—
August 2026	£298,468	£275,465	—
July 2026	£299,153	£276,581	£272,611
June 2026	£299,396	£277,484	£272,188
May 2026	£298,812	£278,024	£271,295
April 2026	£299,251	£278,880	£270,080
March 2026	£299,609	£277,186	£268,132
February 2026	£301,051	£273,176	£267,957
January 2026	£300,283	£270,873	£268,421

House Price History 2025

Month	Halifax HPI	Nationwide HPI	UK HPI / Land Registry
December 2025	£297,938	£271,068	£270,259
November 2025	£299,544	£272,998	£271,188
October 2025	£299,754	£272,226	£269,862
September 2025	£298,215	£271,995	£271,531
August 2025	£298,978	£271,079	£272,995
July 2025	£298,400	£272,664	£269,735
June 2025	£297,157	£271,619	£269,040
May 2025	£296,782	£273,427	£264,962
April 2025	£298,160	£270,752	£262,718
March 2025	£296,899	£271,316	£269,673
February 2025	£298,274	£270,493	£266,303
January 2025	£298,815	£268,213	£265,456

Sources: Lloyds House Price Index, Nationwide House Price Index and UK House Price Index. Historical figures may be revised by the respective index providers.

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How Have UK House Prices Changed Over Time?

UK house prices have moved through very different periods over the past two decades, reflecting changes in the economy, mortgage costs and buyer demand.

Following the 2008 financial crisis, house prices and housing activity were affected significantly as lending conditions tightened and confidence weakened. Mortgage availability became more restricted and transaction levels fell.

During much of the following decade, Bank Rate remained historically low, which helped keep mortgage borrowing costs relatively low. This supported affordability and housing demand, although house-price growth varied considerably between different regions and property types.

The Covid-19 pandemic created another unusual period for the housing market. Changes in working patterns and buyer preferences increased demand for some types of property, while temporary government measures such as Stamp Duty relief also supported activity. House prices rose strongly during parts of this period.

The market then faced a different set of pressures as inflation increased and interest rates rose. Higher Bank Rate and mortgage rates increased borrowing costs and reduced affordability for many buyers, contributing to a slowdown in transaction activity and more subdued house-price growth.

More recently, the market has generally been more balanced. House prices can still rise in some areas while falling in others, with affordability, mortgage rates, household incomes and economic confidence continuing to influence demand.

National averages therefore provide a useful overall picture, but they do not necessarily reflect what is happening in every local property market.

What Affects UK House Prices?

UK house prices are influenced by a combination of economic conditions, housing supply and buyer demand rather than one individual factor.

Mortgage rates and affordability

When borrowing becomes more expensive, buyers may be able to borrow less or face higher monthly repayments, which can reduce purchasing power.

Household income and employment

Strong employment and rising incomes can support buyers’ ability to purchase property, while economic uncertainty or weaker employment conditions can have the opposite effect.

The supply of homes for sale

Where there are more buyers competing for a limited number of properties, prices may be supported. If the number of homes available increases relative to demand, buyers may have greater negotiating power.

Other factors include population growth and household formation, consumer confidence, lenders’ mortgage criteria, taxation and housing policy.

Regional conditions can also be very different. Local employment, transport links, housing supply and property types can mean that house prices in one part of the UK perform differently from the national average.

How Do Mortgage Rates Affect House Prices?

Mortgage rates can influence house prices because they affect both the cost of borrowing and the amount buyers may be able to afford.

When mortgage rates rise, the monthly repayment on the same mortgage amount usually increases. This can reduce how much some borrowers can afford to borrow and may lead buyers to reduce their property budgets.

Higher borrowing costs can therefore reduce purchasing power and weaken demand, particularly where affordability is already stretched.

Lower mortgage rates can have the opposite effect. Reduced monthly repayments may improve affordability and allow some buyers to borrow more, which can support demand for property.

However, the relationship is not automatic. House prices are also affected by household incomes, employment, property supply, economic confidence and lending criteria.

Mortgage rates can also change before the Bank of England changes Bank Rate because fixed mortgage pricing is influenced by swap rates and financial-market expectations.

For this reason, movements in Bank Rate, swap rates and mortgage rates should be considered alongside wider housing-market conditions when assessing the outlook for UK house prices.

Are House Prices Going Up or Down?

There is no single answer because different house price indices can show slightly different movements at the same time.

This is because each index uses a different source of data, covers a different part of the housing market and is published on a different timetable. For example, lender-based indices such as Lloyds and Nationwide are based on mortgage activity, while the UK House Price Index uses completed property transactions and includes cash purchases.

House price movements can also vary significantly by region, property type and price bracket. National figures may therefore show modest growth or falls even when individual areas are moving in a different direction.

It is also important to distinguish between monthly and annual changes. A fall in one month does not necessarily mean the market is in a sustained decline, just as one month of growth does not necessarily indicate a strong upward trend.

For that reason, the clearest view comes from looking at several measures together and focusing on the broader direction over time rather than one individual monthly figure.

What Could Happen to UK House Prices Next?

The outlook for UK house prices can change as mortgage rates, household incomes, employment and economic conditions develop.

For our latest house-price outlook, mortgage-rate forecast and wider economic commentary, see our regularly updated Mortgage & Housing Market Update page.

Looking for Mortgage Advice?

House prices are only one part of determining how much you may be able to borrow and what mortgage may be suitable for you.

If you are buying a property, moving home or remortgaging, Kerr & Watson can assess your circumstances, compare suitable mortgages from across the market and explain the options available. Contact us today.

Written by Daniel Watson, CeMAP, DipMAP
Published: 5 October 2026 | Last updated: 5 October 2026

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Mortgage and insurance advice is our speciality. We have decades of combined experience giving us the knowledge to overcome challenges and find the appropriate solution for your needs.

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We work around your schedule to arrange a mortgage or insurance policy that suits your needs. You’ll be kept updated throughout the entire process with clear communication so you’ll always know what’s going on.

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Frequently Asked Questions

▸ ▾ What are the different types of house surveys?

There are three main types of RICS house surveys:

Level 1: Condition Report – Basic overview of the property’s condition.
Level 2: HomeBuyer Report – More detailed, includes advice on repairs.
Level 3: Building Survey – A full structural survey for older or unusual properties.

▸ ▾ Which survey do I need when buying a property?

It depends on the age and condition of the home. For newer homes in good condition, a Level 1 or 2 is usually enough. For older homes or those in poor condition, a Level 3 Building Survey is recommended. Still unsure? Kerr & Watson can help you decide the right fit.

▸ ▾ How much does a home survey cost in the UK?

Costs vary based on property value, location, and survey type:

Level 1: £300 – £900
Level 2: £400 – £1,000
Level 3: £630 – £1,500+
Prices can fluctuate, so it’s worth getting a quote based on your specific property.

▸ ▾ What’s the difference between a mortgage valuation and a house survey?

A mortgage valuation is for the lender – it simply checks the property is worth the amount you’re borrowing. A house survey, on the other hand, is for you – it checks the condition of the property and highlights any defects or risks.

▸ ▾ Do I need a survey if I’m getting a mortgage?

It’s strongly recommended. A mortgage valuation doesn’t cover structural issues, damp, or needed repairs. A separate house survey helps protect your investment and avoid surprise costs later.

▸ ▾ What does a Level 2 HomeBuyer Survey include?

A Level 2 survey includes an inspection of the property’s condition, visible defects, signs of damp, and advice on necessary repairs and maintenance. It may also include a property valuation.

▸ ▾ Is a Level 3 Building Survey worth it?

If you’re buying an older property, a home that’s been renovated, or something that looks like it might need work – absolutely. A Level 3 survey is the most thorough and gives you a detailed report on structure, potential repairs, and long-term issues.

▸ ▾ Do surveyors check for damp and electrical issues?

Yes, surveyors look for visible signs of damp and electrical problems. While they don’t do in-depth tests, they’ll flag anything that may need further investigation by a specialist.

▸ ▾ Will a surveyor go into the loft or roof space?

Yes – if it’s safe and accessible, most surveyors will inspect the loft or roof space as part of Level 2 or 3 surveys. They’ll check insulation, ventilation, and any structural concerns.

▸ ▾ Can I choose my own surveyor?

Yes. While your mortgage lender may instruct their own valuation, you’re free to choose your own surveyor for an independent report. At Kerr & Watson, we can point you in the direction of trusted local RICS surveyors.

▸ ▾ What if my survey mentions Japanese knotweed?

House surveys sometimes highlight issues that could affect a property’s value or mortgageability, including invasive plants like Japanese knotweed. This is something that is typically identified in a survey rather than a basic mortgage valuation.

If your report refers to it, don’t panic, read Mortgage With Japanese Knotweed

▸ ▾ Does a survey check the EPC?

Yes, an Energy Performance Certificate (EPC) will usually be reviewed as part of the overall inspection process. While the mortgage valuer focuses primarily on the property’s value for lending purposes, a surveyor looks more broadly at the condition of the property, and that can include checking the EPC and related documentation.

Some surveys include Energy Performance Certificates and other related documentation.

It’s useful to know how much an EPC costs, especially if it isn’t included automatically as part of a full inspection or needs to be updated.

▸ ▾ Will a survey check for cladding issues?

Yes, as part of assessing the property’s overall condition, a surveyor will consider structural elements, visible defects, and external materials. This can include identifying cladding and highlighting any concerns that may affect safety, value, or mortgageability.

A survey may report on cladding issues, which can affect lending decisions — including whether you can get a mortgage on a property with cladding. If cladding is mentioned in your report, it’s important to understand how lenders view it and what steps may be required before proceeding.