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Bank Rate held at 3.75 per cent as RSH intensifies enforcement and reviews a year of social housing casework

Week ending 30 July 2026 · published 30 July 2026

Bank Rate held at 3.75 per cent as RSH intensifies enforcement

The Bank of England's Monetary Policy Committee held Bank Rate at 3.75 per cent on 30 July 2026, by a 6 to 3 vote. Megan Greene, Catherine Mann and Huw Pill voted to raise the rate by 0.25 percentage points to 4 per cent — one more dissent than at the 18 June meeting, when the split was 7 to 2. Governor Andrew Bailey said inflation had fallen faster than expected, to 2.6 per cent, while noting that energy prices remained high and volatile because of the conflict in the Middle East. The next decision is scheduled for 17 September 2026. No fresh lender index or ONS reading appeared this week, so the data carries forward.

The Regulator of Social Housing dominated the 24 to 30 July news cycle. On 28 July it published its annual regulatory casework review; its priorities included tenant safety through strong data and accountable systems, effective risk management with board or senior councillor oversight, and strategic value for money linking spending to objectives. Deputy Chief Executive Kate Dodsworth tied stronger governance to landlords' ability to absorb additional grant funding for new and existing social homes. RSH's governance requirements do not apply to councils, but the lessons can still be applied by them.

On 27 July RSH issued a notice of consideration of compulsory deregistration of Easy Housing Association, a small Birmingham and London provider of under 1,000 social homes, the first s118(1)(aa) HRA 2008 deregistration process of 2026. The action follows an enforcement notice in July 2025, a requirement to appoint a manager, and three RSH board appointments that Easy has not cooperated with. Easy can make representations within 14 days. On 29 July RSH published 20 regulatory judgements. Aves Housing, a London supported provider, is not meeting the Governance and Financial Viability Standard or the Rent Standard; RSH found substantial profits accruing to a third party that controls Aves's operations, overcharging for services, and tenants not receiving the claimed support. YMCA Thames Gateway lacks an up-to-date understanding of tenants' home condition, legal health-and-safety compliance, or an effective repairs service, and its liquidity deterioration has placed social homes at risk. Chief Executive Jonathan Walters said the regulator will not tolerate landlords misrepresenting their status as not for profit to take advantage of enhanced housing benefit payments.

Index readings, mortgages and rents

The Lloyds (formerly Halifax) House Price Index recorded 299,330 pounds in June, up 0.2 per cent month-on-month and 0.6 per cent year-on-year, with first-time-buyer annual growth at 0.8 per cent and the average FTB property at 240,433 pounds. Rightmove's July asking-price index showed newly listed prices falling 1.0 per cent to 372,359 pounds, with available supply close to a 12-year high. The ONS UK House Price Index put the average transaction price at 271,000 pounds in May, up 2.7 per cent year-on-year, down from a revised 3.9 per cent in April; ONS attributed the slowdown to a base effect from the April 2025 SDLT changes. London recorded its ninth consecutive annual fall, down 3.7 per cent. Nationwide's June print remains the strongest lender reading at 2.2 per cent year-on-year, leaving a 1.6 percentage-point gap against Lloyds where the two usually track within about one point. Rightmove's mortgage tracker put the average two-year fixed rate at 4.92 per cent in July, down from 5.07 per cent in June. The ONS Price Index of Private Rents recorded average UK monthly private rent at 1,388 pounds in June, up 3.3 per cent year-on-year, with England at 1,446 pounds (up 3.4 per cent), Wales at 843 pounds (up 4.9 per cent), Scotland at 1,012 pounds (up 1.3 per cent) and Northern Ireland at 877 pounds (up 2.9 per cent, April). The North East had England's fastest rent inflation at 6.3 per cent; London the slowest at 2.2 per cent and the highest cash rent at 2,302 pounds.

Sources

We report what the data shows — no forecasts, no investment advice. For local detail, see house prices by area and the monthly market report.