Nationwide House Price Index for August

Annual house price growth edged higher in August

 

  • UK house prices fell 0.2% month on month in August
  • Annual growth rate picked up to 2.4%, from 2.1% in July
  • Fastest pace of annual growth since December 2022
  • Energy efficiency becoming more important in influencing what buyers will pay for a home

 

Headlines Aug-24 Jul-24
Monthly Index* 525.4 526.4
Monthly Change* -0.2% 0.3%
Annual Change 2.4% 2.1%
Average Price

(not seasonally adjusted)

£265,375 £266,334

* Seasonally adjusted figure (note that monthly % changes are revised when seasonal adjustment factors are re-estimated)

Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said:

“UK house prices fell by 0.2% month on month in August, after taking account of seasonal effects, but the annual rate of house price growth continued to edge higher. Average prices were up 2.4% year on year, a slight pickup from the 2.1% recorded in July and the fastest pace since December 2022 (2.8%). However, prices are still around 3% below the all-time highs recorded in the summer of 2022.

“While house price growth and activity remain subdued by historic standards, they nevertheless present a picture of resilience in the context of the higher interest rate environment and where house prices remain high relative to average earnings (which makes raising a deposit more challenging).

“Providing the economy continues to recover steadily, as we expect, housing market activity is likely to strengthen gradually as affordability constraints ease through a combination of modestly lower interest rates and earnings outpacing house price growth.”

EAN Breaking News

Breaking News from the team at Estate Agent Networking. Have a new story to share with us? Then please get in contact today! When and where we can we will refer to third party websites with a 'live link back' where news was released first.

You May Also Enjoy

Breaking News

UK monthly property transactions for May 2025

Headline statistics from the latest transactions data include: the provisional seasonally adjusted estimate of the number of UK residential transactions in May 2025 is 81,470, 12% lower than May 2024 and 25% higher than April 2025 the provisional non-seasonally adjusted estimate of the number of UK residential transactions in May 2025 is 80,530, 13% lower than May 2024 and…
Read More
Breaking News

Construction Skills Mission Board (CSMB) shows the Government has a plan

The Construction Skills Mission Board (CSMB) held its first board meeting today (26 June 2025), where it set out a roadmap for recruiting 100,000 more construction workers a year by the end of Parliament. Richard Beresford, Chief Executive of the National Federation of Builders (NFB), said: “The Construction Skills Mission Board (CSMB) is a recognition…
Read More
Paint Stripper Tools
Estate Agent Talk

5 Strategies to Optimise Your Warehouse for Real Estate

The term fixer-upper can mean many things, from ‘slap some paint on the walls and it looks brand new’ to ‘will this building collapse if we open the front door?’ Indeed, in the dicey world of commercial property acquisition, each warehouse you buy will probably fall into both camps. Thinking about the viability of warehouses…
Read More
Breaking News

HMOs sell for up to 50% above market average

New research from Excellion Capital, the boutique debt advisory and investment firm, reveals that HMOs sell for as much as 50% above the average house price, further increasing their investment potential after it was revealed that HMOs also create rental yields of up to 12.5%. After previous research from Excellion Capital recently showed that the…
Read More
Breaking News

UK buyers struggle while 50,000 homes sit empty

As the UK housing crisis deepens, new analysis by Open Property Group exposes a worrying surge in so-called “zombie homes”- properties that sit unoccupied and deteriorating while millions struggle to access affordable housing. Key insights: 50,000+ long-term vacant homes in England alone 23,000+ of these have been empty for more than two years Estimated £13.6…
Read More
Breaking News

Breaking Property News 26/06/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   The UK is Europe’s second most distressed market despite headline GDP growth Retail and Consumers Goods has emerged as the most distressed sector in Europe, with distress levels now the highest since the global financial crisis, according to the latest Weil European Distress Index (WEDI). The…
Read More