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House prices see biggest monthly fall over two years

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July 29, 2025
2 min read

House prices see biggest monthly fall over two years

House prices in the UK have recorded their biggest monthly fall for over two years in June, mortgage lender Nationwide has revealed. Prices in June fell by 0.8%. That represents the highest decline since February 2023, with the lender saying that it could reflect waning demand after the changes to stamp duty earlier this year.

Over the year, house prices had risen 2.1%, representing the slowest annual growth rate for almost a year. But Nationwide says it expects activity in the housing market to improve over the months to come.

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The situation for those looking to buy a home is still “supportive,” according to Robert Gardner, Nationwide’s chief economist. With the unemployment rate remaining low and earning continuing to outpace inflation, borrowing costs could fall if the Bank of England makes additional cuts to interest rates.

Changes to stamp duty were brought in April. They meant that someone buying a house in England and Northern Ireland would now pay tax on all properties over £125,000 rather than the over £250,000 which was the case before. First time buyers are also required to pay on homes costing over £300,000. Before April, they would only pay if the property was higher than £425,000.

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