UK house prices fall for first time in 2026 - down 0.6% in May

UK house prices fall for first time in 2026 - down 0.6% in MayThe average UK property is now valued at £278,024, as Middle East tensions push up energy prices and mortgage rates. Share Article Share Article Facebook X LinkedIn Reddit Bluesky Email Copy Link Link copied Bookmark Add us as preferred source Comments By Vicky Shaw Press Association Personal Finance Correspondent, Katie Elliott, Consumer Editor 08:57, Mon, Jun 1, 2026 Updated: 08:57, Mon, Jun 1, 2026 UK house prices fall for first time in 2026 as Nationwide May 2026 data shows dip (Image: Getty)Property values eased in May, with the first monthly dip in house prices recorded so far this year, according to an index. The average UK house price slipped by 0.6% month-on-month in May – the first month-on-month fall since a 0.3% decrease in December 2025 – Nationwide Building Society said. window.scriptsToLoad.push({url:'https://live.primis.tech/live/liveView.php?s=118222&vp_content=plembed3a6btjknzwqh&cbuster=%%CACHEBUSTER%%&playerApiId=v118222',triggeredBy:'tcfLoaded',delay:1500,containerId:'ovp-primis',title:"Primis player",beforeLoad:()=>{window.top.addEventListener('primisPlayerInit',e=>{try{if(e.detail&&e.detail.playerApiId==="v118222"){if(window.document.getElementsByClassName('jwplayer')[0]){e.detail.float('disable')}}}catch(e){}})},}) Annual house price growth slowed to 1.7% in May, down from 3.0% in April. The average UK house price across the country in May stood at £278,024. Robert Gardner, Nationwide's chief economist, said: "Prices fell by 0.6% month-on-month, after taking account of seasonal effects – the first monthly decline so far this year. Given the uncertainty caused by developments in the Middle East and the subsequent rise in energy prices and market interest rates, some loss of momentum was to be expected." Article continues below ADVERTISEMENT Get personal finance news, money saving tips and advice plus selcted offers and competitions Subscribe Invalid emailWe use your sign-up to...