Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.
Lloyds HPI: UK House Prices Remain Flat in July Amid Regional Variations
Average UK house prices remained unchanged in July at £299,253, following a 0.2% rise in June, according to the latest Lloyds house price index. The annual growth rate slowed to 0.1%, marking the slowest pace in nearly three years.
The Lloyds index, previously known as the Halifax HPI, highlights significant regional differences. Northern Ireland recorded the strongest annual growth at 7.4%, with average prices reaching £231,131. Scotland saw a 3.6% increase to £223,246, and Wales experienced 1.6% growth to £231,458.
In England, price growth was concentrated in the northern regions. The North East saw annual growth of 2.8% to £182,488, while the North West recorded a 2.1% rise to £247,836. Conversely, southern England continued to see weaker performance. The South East experienced a 2% decline to £381,146, and Greater London saw a 1.3% fall to £533,930.
The report notes that average house prices have remained relatively stable for almost two years, moving within a narrow range and sitting just 0.5% higher than in November 2024. The market has persisted in this pattern despite an uncertain economic backdrop.
For letting agents and inventory clerks, these regional trends may influence rental demand and property turnover, particularly in areas with stronger or weaker price growth. The data also suggests ongoing affordability challenges for buyers, which could impact the rental sector as more people may delay purchasing homes.
Source: Mortgage Strategy