UK House Prices Fall for the First Time in Almost Three Years

UK house prices dropped 0.4% compared to a year ago in August 2026 — the first yearly fall since November 2023. Experts had expected a small rise. The average home cost £298,468, down £685 from July, Lloyds reported. Fewer people got mortgage approvals than at any point since early 2024, as two-year fixed mortgage rates rose to 5.6%.