UK & Sussex Housing News: Prices Flat, Fixed Rates Edge Down (8 August 2026)

A terraced residential street of bay-fronted houses in Hove
Wordsworth Street, Hove, a terrace of bay-fronted houses in the city, with an estate agent’s board on the street. Photo: Wordsworth Street, Hove by Roger A Smith (CC BY-SA 2.0), via Wikimedia Commons.

The housing market stayed flat as August opened. Lloyds reported no monthly movement in July and the slowest annual price growth for almost three years, while several big lenders trimmed fixed mortgage rates in the first week of the month. Here is what changed in the past fortnight and what it means if you are planning a move in Sussex.

Lloyds: UK house prices flatlined in July

Lloyds reported that UK house prices were unchanged in July, leaving the average home at £299,253 after a 0.2% rise in June. Annual growth eased to 0.1%, the slowest rate for almost three years. Amanda Bryden, Lloyds head of mortgages, said average house prices "have remained relatively stable for almost two years, moving within a narrow range". The index, published on 7 August, was renamed the Lloyds House Price Index from the Halifax index this summer, though the method is unchanged. For the South East, which includes Sussex, prices were down 2.0% over the year to an average of £381,146, so local buyers still have a little more room to negotiate than the national figure suggests. Source: Mortgage Strategy, reporting the Lloyds House Price Index.

Lenders trimmed fixed mortgage rates in early August

Several lenders cut fixed rates in the week to 7 August. Nationwide reduced fixed rates by up to 19 basis points, with its lowest rate falling to 4.52% on a two-year fix at 60% loan-to-value with a £1,499 fee. Barclays cut rates by up to 50 basis points across its residential range, and Coventry, Gen H and Virgin Money also made reductions. It was not all one way: Halifax raised rates by up to 12 basis points on selected homemover and first-time-buyer products. The Bank of England held Bank Rate at 3.75% on 30 July and next decides on 17 September, so pricing is likely to stay in a narrow band over the rest of the summer. Source: Mortgage Introducer.

What it means if you are moving

With prices flat and fixed rates drifting lower, the sums matter more than trying to time the market. Compare deals across lenders rather than assuming your own bank is cheapest, and work out your stamp duty before you make an offer. Our stamp duty calculator and guide to the cost of moving house in Sussex can help you plan.