UK Housing Market News: House Price Growth Holds as the Downturn Eases

The middle of July brought steadier readings for the housing market. The long-running Halifax index reported another small monthly rise as it took on a new name, surveyors said the worst of the slowdown may be passing, and lenders kept trimming mortgage rates. Here is what the latest numbers mean for anyone planning a Sussex move.

Halifax house prices edge up again, now under the Lloyds name

House prices rose 0.2% in June, the first monthly increase in four months, taking the typical property to £299,330 and lifting the annual rate of growth to 0.6%. The report also arrives under a new banner: from July 2026 the long-established Halifax House Price Index has been rebranded as the Lloyds House Price Index, with the underlying methodology unchanged. The modest rise chimes with a market that is holding rather than falling, which suits Sussex buyers weighing up a summer purchase. Source: Lloyds Banking Group.

RICS survey says the worst of the slowdown may be passing

The Royal Institution of Chartered Surveyors' June survey, published on 9 July, pointed to a market that remains subdued but is no longer deteriorating. New buyer enquiries came in at a net balance of -29%, an improvement on the -34% of the previous two months and the least negative reading since February, while newly agreed sales edged up to -32% from -35%. Near-term sales expectations recovered to -16% from a low of -34% in March. Surveyor Tarrant Parsons said the worst of the slowdown in market activity may be beginning to pass, though he cautioned that any improvement remains fragile. Source: Mortgage Solutions.

Lenders trim mortgage rates as the Bank of England holds at 3.75%

Early July saw a run of rate cuts from major lenders, with several trimming fixed rates more than once as competition for borrowers picked up. The Bank of England has held its base rate at 3.75%, and its Monetary Policy Committee next meets on 30 July, so buyers are watching closely to see whether the recent easing in mortgage pricing continues. For a higher-value county like Sussex, even small reductions in fixed rates can make a meaningful difference to monthly repayments. Source: Uswitch.

What it means in Sussex

Taken together, the figures describe a market that is finding its feet rather than sliding. Prices are firming gently, buyer activity is slowly recovering from its low point, and cheaper borrowing is starting to filter through. Sussex remains a higher-value area, so realistic pricing and a competitive mortgage still count for a lot, but the tone is steadier than it was in the spring. Well-placed homes near good schools and stations continue to attract interest even while the wider market stays cautious.

Plan the move, not the market

Budget for the full cost of moving before you commit. Work out your stamp duty up front and factor in conveyancing, surveys and removals. Our stamp duty calculator and guide to the cost of moving house in Sussex can help you plan.