London Records a Tenth Straight Month of Annual Price Falls as the North West Leads the June 2026 UK House Price Index

The North to South divide that has defined the UK housing market through 2026 was on clear display again in the official data for June, published by HM Land Registry and the Office for National Statistics on 19 August. While the North West of England continued to lead the country, London extended a run of annual price falls that now stretches into its tenth consecutive month, underlining how differently the capital and the northern regions are behaving as the market cools. ## A softer national picture

The headline figures point to a gently slowing market rather than a sharp correction. Average UK house price annual inflation eased to 2.0% in the year to June 2026, down from a revised 3.0% in the year to May, with the index recording the average UK property at £272,188.

Much of the slowdown reflects a base effect rather than fresh weakness. Price growth was stronger in the early summer of 2025 as values rebounded after the April 2025 Stamp Duty Land Tax changes, so the year on year comparison now looks more subdued. HM Land Registry cautions against reading too much into a single month of data.

• • Average UK price: £272,188, up 0.1% on the month and 2.0% on the year.
• • England: average £293,000, up 1.8% annually.
• • Wales: average £213,000, up 1.8% annually.

Average UK house price annual inflation was 2.0% (provisional estimate) in the 12 months to June 2026. This was down from the revised estimate of 3.0% in the 12 months to May 2026.

HM Land Registry and ONS, UK House Price Index summary: June 2026, 2026

The North West keeps its lead

Among the English regions, the North West remained the strongest performer, with prices rising 4.7% over the year to June 2026, though this eased from 5.6% in the year to May. The North East recorded the highest monthly increase in the latest figures.

The regional split matters more than the national average for investors weighing where activity and demand are holding up. Excluding Northern Ireland, growth was fastest across the North West and North East, continuing a pattern of northern outperformance seen through much of the year.

London's continued slide

At the other end of the table, London was the weakest English region, with average prices falling 2.5% in the year to June 2026. That marks the tenth consecutive month of annual price falls in the capital, although the rate of decline slowed from a 3.1% annual fall recorded in the year to May.

The ONS notes the falls have been driven primarily by Inner London. Even so, London remains comfortably the most expensive part of the country, with an average value of around £554,000, far above every other region.

Transactions and lending

Activity data offered a mixed read. On a non seasonally adjusted basis, HMRC reported that transaction volumes rose 13.1% in England between May and June 2026, with increases also in Wales and Northern Ireland and a small fall in Scotland.

Lending, however, points to a more cautious mood ahead. The Bank of England reported that mortgage approvals for house purchases, an indicator of future borrowing, rose to 58,200 in June but sat below the average of 61,400 over the previous six months.

June's figures reinforce a market moving at two speeds, with northern regions holding firm while the capital works through a prolonged, if now slowing, correction. For investors, the regional detail beneath the national average continues to tell the more useful story. Silkwood will keep tracking how these regional trends develop through the autumn.

Sources

• • HM Land Registry, UK House Price Index for June 2026 (GOV.UK)
• • GOV.UK, UK House Price Index England: June 2026
• • GOV.UK, UK House Price Index summary: June 2026