UK house prices rose for the third consecutive month in August, pushing the average property price to a record high of £299,331, according to Halifax. The 0.3% monthly increase exceeded economists' expectations of 0.1%, though annual growth slowed to 2.2% from 2.5% in July.
Amanda Bryden, head of mortgages at Halifax, described the housing market in 2025 as one of stability, noting that prices have risen by less than £600 since January. 'While the wider economic picture remains uncertain, the housing market has shown over recent years that it can take these challenges in its stride,' she said.
Regional variations persist, with the South West of England seeing an annual price decline of 0.8%, the first such drop in any UK region or nation since July last year. Northern Ireland led growth at 8.1% annually, down from 9.3% the previous month. Scotland and Wales recorded annual increases of 4.9% and 1.6% respectively, while London's average price rose 0.8% to £541,615.
Industry figures highlighted potential headwinds. Nathan Emerson, chief executive of Propertymark, noted higher listings and sales but warned that mooted stamp duty reforms and potential national insurance changes for landlords could cause delays. Verona Frankish, chief executive of Yopa, added that the prospect of stamp duty reform might temper seasonal activity until the autumn budget on 26 November.
