The Great Price Seesaw, July 2026 UK Property Market
I’m going to go out on a limb here: this summer isn’t just about ice cream and holidays; it’s the moment the UK property market decided to finally stop overthinking things and just get on with it. While most people think high street activity slows down when the sun comes out, we are actually seeing a bit of a "catch-up" effect that is defying the usual rules.
Did you know that since the start of 2021, the average price of a home in the UK has jumped from around £245,000 to a whopping £286,209? That is like finding an extra £40,000 hidden under your mattress just for living in your own house. It’s a staggering increase when you look at the big picture, and even though things felt a bit wobbly in June, July has seen things bounce back up again.
The Magic Number: 3.9%
If you look at where we were this time last year, houses are now selling for 3.9% more. To put that in perspective, if your home was worth £300,000 last summer, it has theoretically grown in value by nearly £12,000 while you were busy mowings the lawn and watching the telly.
What is really interesting is that even though the headlines sometimes sound scary, people's wages are actually growing faster than house prices right now. With earnings up by 4.6%, the gap between what we earn and what we spend on a roof over our heads is finally starting to feel a little more comfortable for many families.
The "Big Bank" Update
We’ve all been keeping a close eye on the Bank of England. They haven't nudged the main interest rate—the "Base Rate"—since 18 December 2025. It has been sitting at 3.75% for over six months now.
Think of this rate like the "cost of borrowing" tap. When it stays still, it gives everyone a chance to catch their breath. Because the tap hasn't been turned lately, banks are feeling more confident about what they can offer to people looking for a mortgage.
However, we did see a little dip in the number of people getting their mortgages "rubber-stamped" this month. About 56,200 people got the green light to buy. While that’s a bit lower than the 63,500 we saw in June, it’s still a huge crowd of people—roughly enough to fill a major football stadium—deciding that now is the right time to pack up their boxes.
What does this mean for us in null?
You might wonder why I’m talking about the whole UK when we live right here. Well, the national market is like the tide at the beach; when it comes in or goes out, it eventually affects every bit of sand on the shore, including null.
When the Bank of England keeps rates steady, it means the mortgage deals you see in the windows of our local banks in null stay more predictable. If people across the country feel confident, that "good mood" eventually travels down the motorway to our streets. While our local area has its own unique flavour, we aren't an island—what happens in London or Manchester sets the tone for what happens to the value of your front door right here.
Looking into the Crystal Ball
As we move through the rest of the summer, I expect we’ll see more of this "steady as she goes" behaviour. With prices nudging up slightly by 0.47% just in the last month, the market isn't sprinting, but it certainly isn't sitting on the sofa either. For anyone thinking of moving, the message is clear: the wild roller-coaster rides of the last few years have turned into a much smoother boat trip.