- UK house prices recorded their first monthly dip of the year in May, falling by 0.6 per cent, Nationwide Building Society reported.
- This marks the first monthly decline since December, with annual house price growth slowing to 1.7 per cent in May from 3.0 per cent in April.
- The average UK house price in May stood at £278,024.
- Nationwide's chief economist, Robert Gardner, attributed the loss of momentum to uncertainty from developments in the Middle East, rising energy prices, and increased market interest rates.
- Experts indicate that mortgage rates will continue to dictate the market's pace, with affordability remaining stretched despite a current “buyers' market”.
IN FULL
UK house prices fall for first time in 2026 creating strongest buyers’ market for years
