Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleHouse prices have dipped in May by 0.6 per cent (AFP/Getty)UK house prices recorded their first monthly dip of the year in May, falling by 0.6 per cent, Nationwide Building Society reported. This marks the first monthly decline since December, with annual house price growth slowing to 1.7 per cent in May from 3.0 per cent in April. The average UK house price in May stood at £278,024. Nationwide's chief economist, Robert Gardner, attributed the loss of momentum to uncertainty from developments in the Middle East, rising energy prices, and increased market interest rates. Experts indicate that mortgage rates will continue to dictate the market's pace, with affordability remaining stretched despite a current “buyers' market”. In fullUK house prices fall for first time in 2026 creating strongest buyers’ market for yearsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
What UK house prices dipping in May could mean for buyers
Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleHouse prices have dipped in May by 0.6 per cent (AFP/Getty)UK house prices recorded their first monthly dip of the year in May, falling by 0.6 per cent, Nationwide Building Society reported. This marks the first monthly decline since December, with annual house price growth slowing to 1.7 per cent in May from 3.0 per cent in April. The average UK house price in May stood at £278,024. Nationwide's chief economist, Robert Gardner, attributed the loss of momentum to uncertainty from developments in the Middle East, rising energy prices, and increased market interest rates. Experts indicate that mortgage rates will continue to dictate the market's pace, with affordability remaining stretched despite a current “buyers' market”. In fullUK house prices fall for first time in 2026 creating strongest buyers’ market for yearsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
