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.
Nationwide Reports Slower UK House Price Growth in July Amid Economic Uncertainty
Nationwide’s latest House Price Index reveals that UK house price growth slowed in July, with annual growth easing to 1.8%, down from 2.2% in June. The building society attributes the subdued market activity to ongoing economic uncertainty.
On a seasonally adjusted monthly basis, house prices rose by 0.1% in July, following broadly flat growth in the previous month. The average UK house price reached £277,542 in July, compared with £277,484 in June.
Nationwide’s analysis also highlights trends in how long people are staying in their homes. On average, people are now spending 14 years in the same property. This varies by tenure: homeowners who own their property outright typically remain for 24 years, while private renters stay in one property for around five years on average.
The research further shows that around three-quarters of home moves during 2024/25 took place within the same housing tenure, rather than involving a switch between renting and homeownership.
For letting agents and inventory clerks, these findings suggest that private renters continue to move more frequently than homeowners, with average tenancies lasting about five years. The data also indicates that most moves are within the same tenure, which may influence demand for rental property services and inventories.
Source: Mortgage Strategy