AUGUS T 2026
£798,000
£1,145,814
-5.3%
£626
£43.5bn
17,201
MORTGAGE APPROVALS (JUNE)
58,200
-3.0%
-10.0%
RESIDENTIAL TRANSACTIONS (JUNE)
98,700
-1.5%
2.5%
GROSS MORTGAGE LENDING (JUNE)
£27.4bn
5.9%
15.1%
52,772
7.4%
1.9%
210,751
-
3.2%
NEW HOMES BUILT (Q226) NEW HOMES BUILT (ANNUAL)
Source: Dataloft by PriceHubble, Bank of England, HMRC, ONS
S T E A DY A M I D U N C E R TA I N T Y
Housing takes centre stage under a new Prime Minister, and all eyes turn to the autumn budget. Demand and prices are holding broadly steady, even as elevated mortgage rates and geopolitical uncertainty continue to shape the wider outlook. SETTING THE SCENE Inflation fell more than expected to 2.6% in the 12 months to June, it’s lowest level since March 2025¹. However, the reprieve may be temporary as renewed Iran-US conflict has pushed up energy prices and interest rate expectations, with 2026 inflation forecasts now materially higher than at the start of the year (3.4% versus 2.2%)². The Bank of England held rates at 3.75% in July, citing geopolitical risk, and is expected to hold through year-end. On the plus side, wage growth, though slowing, remains solid and stronger than forecast, giving households some breathing space.
NEW PM, NEW HOUSING PRIORITIES Since becoming Prime Minister on 20 July 2026, Andy Burnham has made housing an early priority, pledging the “biggest council house building programme since WWII.” None of his proposals, including a potentially lowered mansion tax threshold (from £2m to £1.5m) and capital gains tax alignment for landlords and second home owners, are yet confirmed or costed, pending the Autumn Budget. This uncertainty adds another distraction for buyers to navigate, but also offers a chance to reset political priorities and, importantly, brings in a Prime Minister for whom housing sits near the top of the agenda.
RESILIENT MARKET Political change, the World Cup, a hot summer, and elevated mortgage rates have weighed on activity this summer, yet the market has shown resilience: sales agreed in H1 2026 matched the same period in 2024³, and transactions stabilised in June at 98,700, up 2.5% year-on-year, following two months of decline4. Demand remains subdued but steady. The RICS new buyer demand series posted a net balance of -29% in June, a slight improvement on the -34%
readings seen in each of the previous two surveys, and the least downbeat result since February. Mortgage approvals rose to 58,200 in June 2026, up from 56,565 in May, boosting hopes for a busier market ahead, though approvals remain below the six-month average amid ongoing political and economic uncertainty5.
PRICING Annual house price growth eased to 1.8% in July, down from 2.2% the previous month, though it remains in positive territory. On a seasonally adjusted basis, prices were broadly flat month-on-month6. In England and Wales, the average price of a prime market property is £1,145,814, softened by 5.3% year-on-year. Setting the right asking price from the outset is key to achieving a timely sale. Nearly three-quarters (74%) of homes that have successfully sold and completed this year did so without having prices reduced³.
HOW LONG DO PEOPLE STAY IN THEIR HOMES? The average length people stay in their homes has remained broadly stable since 2010/11, at around 14 years overall, though this varies by tenure7. Outright owners stay longest, averaging nearly 24 years, with a third remaining 30+ years. Private renters have the shortest tenures of 4.7 years, with half moving within two years. There has been a small increase in the average length of stay in the private rented sector over the last decade, while those owning with a mortgage have seen a small decline. ¹ONS, ²HM Treasury Average of Independent Forecasts, 3Rightmove, 4HMRC, 5
Bank of England, 6Nationwide, 7English Housing Survey
£550,000 £750,380 -4.7% £362
£425,000 £573,061 +0.4% £307
£550,000 £737,240 -0.3% £383
£590,000 £778,117 +0.4% £388
£542,000 £710,736 +0.7% £342
£494,000 £640,986 +1% £336
£731,000 £974,234 -2.7% £468
£522,000 £700,405 +0.7% £358
£814,000 £1,106,769 -0.9% £532 £935,000 £1,306,196 -4.8% £568
£1,490,000 £2,332,592 -9% £1,152
Source: Dataloft by PriceHubble, Land Registry. *Based on properties listed to sell over the past 12 months, recorded by Information Works
0% -0.8% -1.6% -2.4% -3.2% -4% -4.8% -5.6% -6.4% JUL 2025
AUG 2025
SEP 2025
OCT 2025
NOV 2025
DEC 2025
JAN 2026
FEB 2026
MAR 2026
APR 2026
MAY 2026
JUN 2026
Source: Dataloft by PriceHubble, Land Registry.
£1,200 £1,050
£ 995
£900 £750
£ 744
£600 £450
£ 570
£ 578
DETACHED
SEMI-DETACHED
£ 626
£300 £150 £0
TERRACED
FLAT/APARTMENT
ALL PROPERTY
Source: Dataloft by PriceHubble, Land Registry.
24% 16% 8% 0% -8% -16% -24% -32% -40%
JUN 2025
JUL 2025
AUG 2025
SEP 2025
OCT 2025
NOV 2025
DEC 2025
JAN 2026
FEB 2026
MAR 2026
APR 2026
MAY 2026
Source: Dataloft by PriceHubble, Land Registry.
£280,190 £798,000 £1,145,814
£223,862 £698,000 £1,013,280
£226,498 £665,000 £1,020,000
£277,510 £663,000 £909,445
£438,254 £1,050,000 £1,498,810
£293,049 £815,000 £1,168,311
4% 3% 2% 1% 0% -1% -2% -3% -4% JUL 2025
AUG 2025
SEP 2025
OCT 2025
NOV 2025
DEC 2025
JAN 2026
FEB 2026
MAR 2026
APR 2026
MAY 2026
JUN 2026
Source: Dataloft by PriceHubble, Land Registry.
£400 £350 £300
£ 344
£ 339
£ 301
£ 296
£250
£ 259
£200 £150 £100 £50 £0
DETACHED
SEMI-DETACHED
TERRACED
FLAT/APARTMENT
ALL PROPERTY
Source: Dataloft by PriceHubble, Land Registry.
84
81
80
76
76
73
72
70
68 64 60
60
62
63
66
64
66 62
60
62
56 52 JUN 2025
JUL 2025
AUG 2025
SEP 2025
OCT 2025
NOV 2025
DEC 2025
JAN 2026
FEB 2026
MAR 2026
APR 2026
MAY 2026
JUN 2026
Source: Dataloft by PriceHubble, Rightmove.
64 56 48 40 32 24 16 8 0
JUN 25
JUL 25
AUG 25
SEP 25
OCT 25
2026-08-04
NOV 25
DEC 25
JAN 26
FEB 26
MAR 26
APR 26
MAY 26
JUN 26