Editor's note: This brief was summarised by The Property AI Newsroom from a report by Property Industry Eye. Read the original article for full details.

Nationwide Data Shows Slower House Price Growth and Subdued Market

Annual house price growth slowed to 1.8% in July, down from 2.2% in June, according to the latest Nationwide figures reported by Property Industry Eye. The data also shows that house values increased by just 0.1% on a seasonally adjusted monthly basis, reflecting subdued activity in the UK housing market.

The report highlights that ongoing geopolitical tensions, higher energy prices, and uncertainty over future interest rates continue to dampen market activity. Conflict involving Iran has contributed to renewed pressure on energy costs and financial markets, adding volatility to expectations for future Bank of England rate decisions. However, easing inflation and slower wage growth could give policymakers more flexibility over future monetary policy.

Housing Tenure and Mobility

Separate analysis of housing tenure reveals that households remain in their homes for an average of 14 years, though this varies by tenure. Homeowners who own their property outright have lived in their current home for an average of almost 24 years, with about one in three staying for at least 30 years. In contrast, private renters stay in a property for an average of five years, with around half moving within two years of starting a tenancy.

The data also indicates that most housing moves occur within the same tenure. Around three-quarters of households that moved in 2024/25 remained within their existing tenure, with moves within the private rented sector making up the largest share of activity. Approximately 200,000 households moved from the private rented sector into homeownership during the year, while about 100,000 owner-occupiers moved into privately rented homes, showing continued flow between tenures despite subdued market conditions.

This information is particularly relevant for letting agents and inventory clerks, as it underscores the higher turnover rates in the private rented sector and the ongoing movement between renting and homeownership.