The average house price dipped by 0.8 per cent month-on-month in June, according to an index.
Across the UK, the typical property value in June was £271,619, Nationwide Building Society said.
The annual rate of house price growth slowed, to 2.1 per cent in June, from 3.5 per cent in May.
Robert Gardner, Nationwide’s chief economist, said: “The softening in price growth may reflect weaker demand following the increase in stamp duty at the start of April.
“Nevertheless, we still expect activity to pick up as the summer progresses, despite ongoing economic uncertainties in the global economy, since underlying conditions for potential home buyers in the UK remain supportive.”
Nationwide said its regional house price figures, which are produced quarterly, indicate that the majority of areas have seen a modest slowdown in annual house price growth.
Mr Gardner added: “Northern Ireland remained the strongest performer by a wide margin, though it did see a slowing in annual price growth to 9.7 per cent, from 13.5 per cent in (the first quarter of the year).”
Looking at different types of property, Mr Gardner said: “Our most recent data by property type shows that terraced houses have seen the biggest percentage rise in prices over the last 12 months, with average prices up 3.6 per cent year-on-year.
“Flats saw a further slowing in annual price growth to 0.3 per cent, from 2.3 per cent last quarter. Semi-detached properties recorded a 3.3 per cent annual increase, while detached properties saw a 3.2 per cent year-on-year rise.”
Tom Bill, head of UK residential research at Knight Frank, said: “The legacy of the March stamp duty cliff edge is high supply and softer demand, which is putting downwards pressure on house prices.”
Jason Tebb, president of OnTheMarket, said: “There is still plenty of evidence of steady activity in the housing market, despite a considerable number of buyers bringing forward transactions in order to take advantage of the stamp duty holiday before it ended in March.
“Average house prices are being kept in check by the increase in stock, which exceeds supply in some areas.”
Amy Reynolds, head of sales at London-based estate agent Antony Roberts, said: “While many sellers are reducing asking prices to attract interest, we’re still agreeing a strong number of sales – and prices are largely holding firm.
“We’re also seeing buyers lose out because they hesitated, expecting further price drops, only for someone else to come in and secure the property.”
Nathan Emerson, chief executive at property professionals’ body Propertymark, said: “We still sit in a phase of inflation not quite being where the Bank of England ideally want it to be.”
Sarah Coles, head of personal finance, Hargreaves Lansdown said: “Optimists can spy a few green shoots. Mortgage approvals picked up in May, and given that interest rates are trending downwards, wages are still rising ahead of inflation and unemployment remains relatively low, there are some firm foundations in place if mortgage rates start to bring property prices within reach.
“Pessimists will point out that wage rises are slowing and unemployment is growing. And while mortgages are gradually falling, they’re not doing so fast, or in a straight line, so deals aren’t suddenly becoming much more affordable overnight.
“If you’re struggling to sell, it’s incredibly frustrating. The key is to price realistically, and get your finances in order while you wait.”
What homes cost in every UK region
Region |
House price |
Annual increase (to June 2025) |
Northern Ireland |
£208,686 |
9.7 per cent |
North East |
£167,259 |
5.5 per cent |
Scotland |
£189,311 |
4.5 per cent |
North West |
£222,643 |
4.2 per cent |
Outer metropolitan* |
£431,084 |
2.9 per cent |
Outer South East |
£340,736 |
2.6 per cent |
Wales |
£212,969 |
2.6 per cent |
South West |
£308,349 |
2.4 per cent |
West Midlands |
£248,576 |
2.3 per cent |
Yorkshire and the Humber |
£211,318 |
2.3 per cent |
East Midlands |
£236,326 |
2 per cent |
London |
£532,449 |
1.4 per cent |
East Anglia |
£273,474 |
1.1 per cent |
Source: Nationwide
Outer Metropolitan includes St Albans, Stevenage, Watford, Luton, Maidstone, Reading, Rochford, Rushmoor, Sevenoaks, Slough, Southend-on-Sea, Elmbridge, Epsom and Ewell, Guildford, Mole Valley, Reigate & Banstead, Runnymede, Spelthorne, Waverley, Woking, Tunbridge Wells, Windsor and Maidenhead, Wokingham.
Outer South East includes Ashford, Basingstoke and Deane, Bedford, Braintree, Brighton and Hove, Canterbury, Colchester, Dover, Hastings, Lewes, Fareham, Isle of Wight, Maldon, Milton Keynes, New Forest, Oxford, Portsmouth, Southampton, Swale, Tendring, Thanet, Uttlesford, Winchester, Worthing.
