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.

ONS Reports Slower UK House Price Growth in May 2026

Annual UK house price growth slowed to 2.7% in May 2026, according to the latest figures from the Office for National Statistics (ONS). The average property is now valued at £271,000, with prices increasing by 0.3% between April and May 2026.

The ONS attributed the slowdown in growth to a base effect following changes to Stamp Duty Land Tax (SDLT) in England and Northern Ireland in April of the previous year. In comparison, house prices rose by 1.5% over the same period in 2025.

Industry leaders have commented on the figures, noting that the market remains resilient despite ongoing affordability concerns. The data indicates that while sellers may benefit from continued price growth, many buyers—particularly first-time buyers—are still facing challenges related to affordability.

The report also highlights that the market is becoming more balanced, with buyers having greater choice and sellers needing to price properties realistically. Increased levels of available stock are contributing to a more competitive environment, making ambitious pricing strategies less effective than in previous, more supply-constrained markets.

Economic uncertainty and borrowing costs are influencing buyer decision-making, with some delaying moving plans. The industry is watching for upcoming decisions from the Bank of England and Ofgem, as well as potential changes in government housing policy, which could impact consumer confidence and market activity in the coming months.

For letting agents and inventory clerks, these trends suggest a market where value, quality, and realistic pricing are increasingly important. The ongoing focus on affordability and economic stability may affect transaction volumes and the types of properties in demand.