UK House Prices Unchanged in September Amid Higher Mortgage Rates
UKPulse Property Desk
UK house prices remained flat in September, with the average property price at £298,441, according to the latest Lloyds House Price Index.
- UK house prices were unchanged in September, following a 0.3% fall in August.
- The average property price in September stood at £298,441.
- New buyer enquiries reached their highest level since February.
UK house prices were unchanged in September, with the average property price recorded at £298,441, according to the latest Lloyds House Price Index. This follows a 0.3% fall in August, and prices also remained flat compared to September 2025.
On a quarterly basis, prices saw a slight slip of 0.2%. Lloyds noted that while the market has been subdued due to higher mortgage rates and economic uncertainty, property prices have shown resilience.
There are indications of improving buyer interest, with new enquiries from prospective buyers reaching their highest level since February. Andrew Asaam, mortgages director at Lloyds, stated that consumer confidence will be important for activity through the remainder of 2026 and into next year.
Why this matters: The stability in house prices, despite higher borrowing costs, suggests a balancing act between buyer caution and underlying demand in the housing market.
What this means for you: If you are a prospective buyer, new enquiries reaching their highest level since February could indicate increased competition, while stable prices may offer some predictability.