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Nationwide reports 1.6 per cent annual house-price growth in August and revises July down to 1.4 per cent as social-housing pipeline shows 5.1 billion pounds of uncommitted development

Week ending 3 September 2026 · published 3 September 2026

The 28 August to 3 September window produced two fresh data prints and a refreshed mortgage-rate tracker. Nationwide published its August House Price Index on 3 September, the Regulator of Social Housing released its Q1 2026 Quarterly Survey the same day, and Rightmove's daily tracker put the average two-year fixed rate at 5.05 per cent. Bank Rate remained at 3.75 per cent after the 30 July 2026 Monetary Policy Committee decision, where three members voted for a 0.25 percentage point rise to 4 per cent; the next decision is 17 September 2026.

Nationwide August reading and the July revision

Nationwide's seasonally adjusted index rose 0.2 per cent in August to 550.1, taking the annual rate to 1.6 per cent. The average house price was 275,465 pounds, down from 276,581 pounds in July. Robert Gardner, Nationwide's Chief Economist, said market activity and prices had remained subdued, reflecting an uncertain economic backdrop and volatile expectations for the future path of Bank Rate. He noted that private-sector wage growth had eased further, giving policymakers breathing space to assess how much tightening is needed to return inflation sustainably to target. Alongside the August release, Nationwide revised its annual change for July by 0.4 percentage points, from 1.8 to 1.4 per cent; the revision applies only to the headline annual series, with regional indices unchanged.

Social housing supply and the 5.1 billion pounds uncommitted figure

The RSH Q1 2026 Quarterly Survey, covering 1 April to 30 June 2026, recorded 4.3 billion pounds raised by Private Registered Providers in the quarter, of which 2.2 billion pounds was bank lending. Investment in new homes totalled 3.1 billion pounds, with 12-month forecast development spend rising to 16.0 billion pounds. Within that, 5.1 billion pounds was uncommitted development, a 16 per cent increase on the previous forecast and the highest level in three years. Repairs and maintenance spend was 2.4 billion pounds in the quarter, with last-twelve-month spend at 9.7 billion pounds and next-twelve-month forecast at 11.1 billion pounds. Cash interest cover, excluding sales but including grant for capitalised major repairs, stood at 59 per cent in the quarter to June 2026. Will Perry, RSH Director of Strategy, said landlords should adapt plans to emerging opportunities and changes in regulation and maintain robust contingency plans to support long-term financial resilience.

Mortgage rates and the wider calendar

Rightmove's tracker dated 3 September 2026 put the average two-year fixed rate at 5.05 per cent and the average five-year fixed at 5.08 per cent, with weekly change shown as zero. The lowest advertised two-year fixed was 4.34 per cent. Colleen Babcock of Rightmove noted that average rates had risen over recent weeks as geopolitical tensions escalated, up from 4.25 per cent before the war in Iran started but down from around 5.43 per cent at the April peak.

The Lloyds House Price Index (formerly Halifax) remained on its July 2026 print of 299,253 pounds and 0.1 per cent annual growth, ahead of the August release due Monday 7 September 2026. The ONS Price Index of Private Rents bulletin next publishes on 16 September 2026 alongside the HM Land Registry UK House Price Index for July 2026, the first reading where the April 2025 Stamp Duty Land Tax base effect is fully outside the twelve-month window. Rightmove's 17 August asking-price release remains the freshest asking-price measure: 364,999 pounds, down 2.0 per cent month-on-month and 1.0 per cent year-on-year, the largest annual drop since December 2023. The four measures track different points in the housing chain (mortgage approvals, transactions, and asking prices) and are not in conflict.

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.