GLOPRAGlobal Property Radar

UK house prices up 0.5% in October 2026, slowest since January 2024

Annual UK house price growth slowed to 0.5% in October, the weakest since January 2024, while expectations of a higher Bank Rate lift mortgage pricing.

The facts

  • Nationwide Building Society, in the index it published on 30 October 2026, put the average UK house price at £273,566 in October, against £274,251 in September.
  • Annual growth slowed to +0.5% from 0.8% in September, the weakest reading since January 2024.
  • Seasonally adjusted, prices were flat month on month: the index stood at 547.8 in October against 548.1 in September.
  • Chief economist Robert Gardner attributed the slowdown to mounting financial market expectations of Bank Rate increases, and to the resulting upward pressure on the market interest rates which underpin mortgage pricing.
  • Gardner also stated that household debt remains close to 20-year lows relative to household disposable income, and that income growth has continued to outpace house price growth by a wide margin.

What it means for your money

  • Entry prices are flat, but financing is getting dearer. What you save on the price you may hand back in mortgage cost.
  • Glopra data for the United Kingdom put the average price at 3,767 US dollars per square metre and the bubble risk score at 41 out of 100, in the moderate band, so this slowdown is cooling a market that was not stretched to begin with.
  • If you already own in the UK, growth of 0.5% in nominal terms means capital value is slipping in real terms, and the rate expectations Gardner describes land on the next refinancing rather than on the purchase price.

What to watch

  • Whether those expectations turn into an actual decision. The release reports what financial markets expect, not what the Bank of England has done.
  • One flat month is not a trend. The next print will show whether October's standstill becomes a run of declines.
  • The average of £273,566 is not seasonally adjusted while the flat monthly change is, so the two figures sit on different bases.

Sources: Nationwide Building Society https://www.nationwide.co.uk/media/hpi/reports/annual-house-price-growth-slows-again-in-october; Nationwide Building Society https://www.nationwide.co.uk/media/hpi

Market data: Edinburgh · Manchester · United Kingdom · London