Are UK house prices falling? Market update, November 2026

House prices in England and Wales are barely rising. PropertyTruth's analysis of HM Land Registry sales shows a median price of £500,000 in the 12 months to 31 August 2026, up 2.0% on the previous 12 months. The median is the middle price of all sales in the period, so half of homes sold for more and half for less.

Are UK house prices falling?

Overall prices are not falling, but growth has almost stopped. Nationwide reported annual house price growth of 0.5% in October 2026, the weakest rate since January 2024, and prices were unchanged on the month.

The ONS and HM Land Registry UK House Price Index shows an average price of £273,000 in the 12 months to August 2026, up 0.9%. Zoopla puts the average at £273,100, up 0.8% in the 12 months to September 2026. The indices differ in method, but all point to flat prices.

Are flats or detached houses rising faster?

Flats are rising while detached houses are falling in our Land Registry data. The median flat price was £475,000 in the 12 months to 31 August 2026, up 4.9%. The median detached house price was £556,500, down 6.5%.

Property type or area	Median price	Change on previous 12 months
All property types, England and Wales	£500,000	+2.0%
Flats, England and Wales	£475,000	+4.9%
Detached houses, England and Wales	£556,500	-6.5%

The detached figure rests on a small sample of 343 recorded sales, so treat that fall as indicative only. Sales counts are also provisional. PropertyTruth recorded 5,491 sales in the 12 months to 31 August 2026, down 78.3%, because registrations are still being filled in. Land Registry data lags by a month or two, so the most recent months will be revised.

What changed this month?

The Bank of England raised Bank Rate to 4% on 5 November 2026, up from 3.75%. Bank Rate is the benchmark interest rate that sets the cost of most mortgages and savings, and the Monetary Policy Committee voted eight to one for the rise. Lenders typically pass such moves on to mortgage pricing.

Mortgage rates are already at a three-year high. The Moneyfacts Average New Mortgage Rate was 5.89% at the start of November 2026, according to Moneyfacts. Rightmove's averages for 6 November 2026 were lower, at 5.51% for a two-year fix, so averages differ by provider and method.

What does this mean for asking prices?

Asking prices are still close to last year's level. Rightmove's national average asking price was £371,015 in October 2026, up 1.0% on the month and down 0.1% on a year earlier. Asking prices are what sellers want, so they usually sit above the sold prices recorded by the Land Registry.

Frequently asked questions

The outlook is uncertain. Bank of England inflation expectations and the next rate decision on 17 December 2026 will shape the coming months. We will update these figures as new Land Registry data is published.