UK HOUSE PRICES HIT RECORD HIGH IN AUGUST – Market shows resilience despite economic uncertainty
UK house prices rose for the third month in a row in August, pushing the average property price to an all-time high as confidence steadily returns to the housing market.
Prices increased by 0.3% last month – building on July’s 0.4% rise and June’s 0.1% lift – taking the average UK home value to £299,331, according to the latest Halifax House Price Index. The increase far outpaced the 0.1% growth predicted by economists.
On an annual basis, house price growth slowed slightly to 2.2%, down from 2.5% in July, but still above the expected 2%. Amanda Bryden, head of mortgages at Halifax, said the market had remained remarkably steady through 2025, with prices rising by less than £600 since January.
“This year has been one of stability,” Bryden said. “Despite wider economic pressures, the housing market has once again demonstrated its ability to absorb challenges and remain resilient.”
Regional trends, however, show a more mixed picture. The South West saw prices dip 0.8% over the past year – the first annual decline recorded by any UK region since July 2024. In contrast, Northern Ireland remains the fastest-growing market, with prices up 8.1% year-on-year, though slightly down from July’s 9.3%.
Scotland recorded 4.9% annual growth, while Wales saw a 1.6% rise. London remains the UK’s most expensive housing market, with average property values climbing 0.8% over the past year to £541,615.
