The UK Nationwide House Price Index rose 1.8% year-on-year in July 2026, down from a 2.2% increase in June and slightly below market expectations of a 1.9% gain. Nationwide Chief Economist Robert Gardner said that renewed geopolitical tensions—particularly the conflict involving Iran and the US—have pushed up energy prices and added to volatility in market interest rate expectations.
Even so, he noted that easing consumer inflation and moderating wage growth have given the Bank of England more room to evaluate whether additional policy tightening is required to bring inflation back to target.
Gardner also pointed out that the latest housing survey shows the average length of residence has remained broadly stable at around 14 years. Outright homeowners stay in the same property for nearly 24 years on average, while private renters typically remain in a home for about five years.
On a monthly basis, house prices inched up 0.1% in July, following a flat reading in June.
