UK house prices stall in September as higher mortgage rates and budget uncertainty weigh on buyers

In September 2026, UK house prices stalled, with no change from the previous month or year, according to Lloyds Bank. The average home was valued at £298,441. This comes amid rising mortgage rates and uncertainty over the upcoming Budget, which have made buyers cautious. The Royal Institution of Chartered Surveyors also reported increased downward pressure on prices, with London experiencing the largest annual decline. Regional variations were notable, with Northern Ireland seeing strong growth. Experts suggest that affordability, confidence, and borrowing costs are all under pressure, contributing to the market's stagnation.