Average UK house price falls amid market uncertainty and Iran crisis

• The average UK house price recorded its first monthly decline of 2026 in March, falling by 0.5 per cent to £299,677, according to Halifax.
• This dip follows increases in January and February, with annual property value growth softening to 0.8 per cent from 1.2 per cent the previous month.
• Halifax attributed the market slowdown to uncertainty stemming from the Middle East conflict, which has led to higher energy prices, increased inflation expectations, and a rise in mortgage rates.
• Northern Ireland continued to lead UK annual house price growth at 8.7 per cent, followed by Scotland at 4.4 per cent, while stronger growth in England was concentrated in northern regions.
• Property experts anticipate that mortgage rates will not quickly revert to earlier levels, suggesting that demand and house prices will remain constrained, with geopolitical risks influencing borrowing costs.

IN FULL

Average UK house price fall in March as market uncertainty hits