UK house prices declined at the fastest pace in nine months in August as rising mortgage rates and high inflation continue to weigh on housing affordability and demand.
House prices registered a monthly drop of 1.9 percent, following a 0.4 percent drop in July. This was the biggest fall since November 2022 and also marked the fifth consecutive decrease.
The year-on-year fall in house prices was 4.6 percent, which was also bigger than the 2.5 percent drop in July. The 4.6 percent decrease was the largest fall since 2009.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.