UK house price growth halves amid rising mortgage interest rates
UK house price growth halved in September to 0.8% year-on-year, marking the slowest pace since December of the previous year. This slowdown was driven by rising mortgage interest rates resulting from geopolitical tensions in the Middle East and increased energy costs. Despite the price stagnation, economists suggest that affordability is improving relative to earnings, which may help the market regain momentum if interest rates stabilize.
- ▪The average price of a British home rose 0.8% in the year to September, reaching £274,251.
- ▪House prices fell by 0.2% month on month after accounting for seasonal effects.
- ▪Average interest rates on two-year and five-year fixed mortgages both exceeded 5.9%, hitting multi-year highs.
- ▪East Anglia experienced the largest annual house price decline at 0.7%, while Northern Ireland saw the strongest growth at 5.9%.
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| Original publisher | The Guardian — World |
| Canonical URL | https://www.theguardian.com/money/2026/oct/01/uk-house-price-growth-rising-mortgage-interest-rates-nationwide |
| Publication time | Thu, 01 Oct 2026 06:59:04 GMT |
| Retrieval time | 2026-10-01T07:17:31.258Z |
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Nationwide said there was ‘upward pressure on the market interest rates which underpin mortgage pricing’. Photograph: BMD Images/AlamyView image in fullscreenNationwide said there was ‘upward pressure on the market interest rates which underpin mortgage pricing’. Photograph: BMD Images/AlamyHouse pricesUK house price growth halves amid rising mortgage interest ratesPrices fell by 0.2% month on month in September as average price of a home slipped to £274,251, says Nationwide Business live – latest updates Kalyeena Makortoff Banking correspondentThu 1 Oct 2026 02.59 EDTLast modified on Thu 1 Oct 2026 03.00 EDTSharePrefer the Guardian on GoogleAnnual house price growth halved in the UK last month, as economic uncertainty sparked by conflict in the Middle East continued to deter…
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