DATA: Nationwide reported UK house prices rose 1.6% in year to Aug 2026
They report a monthly increase of 0.2% but the bigger news was the revision to the previous month’s data – this is the first time I can remember them revising historic data and was “as a result of a system change which led to some cases not being included in the original sample”. As the chart below shows, it had a minimal effect on the annual percentage change trend, reducing the July figure from 1.8% to 1.4%, but has reduced our expectation of year-end growth to 1.6% (based on normal seasonal trends).
DATA: BoE published effective mortgage rate data for Jul 2026
They report the average rate on new advances (purchase and remortgage) increased to 4.46% from 4.36% the previous month. The average rate on outstanding balances was unchanged at 3.97%.
DATA: BoE reported 56,053 approvals for house purchase in Jul 2026
The number of mortgage approvals for house purchase was 3.7% lower than the previous month and 14.9% lower than the same month last year. Approvals for remortgaging were 11.9% lower than last year.
DATA: Financial Market Expectations For BoE’s Bank Rate
The chart provides a summary for the expected future level of Bank Rate based on daily data. The One Year figure was 4.55% on the 2nd Sep, up from 4.36% on the 26th Aug.
DATA: New Build Energy Performance Certificates, England
This chart provides a summary of the number of EPCs on new build properties, a useful leading indicator for net additions. The 52-week rolling total was 208,930 for the week commencing 24th Aug, slightly higher than the 208,071 total for the previous week.
REPORT: UKF published Household Finance Review for Q2 2026
They report “From March onwards, as the mortgages agreed on these the higher rates began to feed through into completions, affordability metrics spiked sharply” and “By June, the typical First-time buyer (FTB) faced mortgage payments equating to 22.6 per cent of their gross income, higher than at any point since the Global Financial Crisis (GFC) took hold”.
REPORT: BoE reported on mortgage refinancing & interest rate shocks
Using the September 2022 budget interest rate shock, they find “a shift toward two-year fixes, even though they priced above five-year mortgages” and “deleveraging, with a 200 basis points rate rise linked to a 2–3 percentage points drop in average loan to value ratios”. They also report “Although the adjustable-rate mortgage share increased, most borrowers still chose the pricier two-year fix, consistent with seeking rate risk protection plus near-term flexibility for equity extraction if rates fall”.
REPORT: FCA reported on a mortgage and open finance policy sprint
They report “Open finance could improve consumers’ mortgage journeys” but “The value depends on data being usable as trusted evidence”.
REPORT: HBF reported on local authority planning department capacity
They report “The data shows that 90% of local planning authorities are operating below full staffing capacity, with planning departments working at an average of just 80% of the staffing levels they say they need” and “On average, councils employ fewer than 36 planning staff despite requiring around 44 to operate at full capacity”.
REPORT: Centre for Cities reported on building homes near stations
They report “Compared to French and Japanese cities, Britain’s 12 largest cities are missing at least 2.4 million homes around stations” and “The average British city built 50 per cent fewer homes near stations compared to peers in France and Japan between 2011 and 2021”. They also report “In some British cities, densities are low because they lack public transport infrastructure”.
REPORT(PDF): CIH reported on shared ownership in England
They report “affordability requirements for shared ownership must be properly focused on sustainable homeownership in the long-term” and “Gaps persist in communication, accessibility, and long-term cost predictability for shared owners, with satisfaction decreasing over time”. They also report that “Whilst many recent reforms have been welcomed for improving shared ownership, there are concerns that these will largely only apply to new shared ownership homes, leaving existing shared owners to live within the existing model”.
REPORT: David Hume Institute reported on Scottish housing associations
The report is a “Call for housing associations to be treated by government as economic infrastructure and for the full economic return on housing investment to be measured”.
REPORT: SMF reported on Council Tax and Social Care Reform
They report “Council tax reform and social care funding are both longstanding, unresolved policy problems” as “Reforming council tax creates visible losers, while the rising cost of old age social care is squeezing local authority budgets” and suggest tackling the two together.
REPORT: Retties reported on Scotland’s LBTT revenues
They report that “Around 70% of sales are over the £145,000 threshold, meaning the vast majority of Scottish house buyers can expect an LBTT bill” and “In 2025/26, Residential LBTT revenue reached a record high in Scotland of c.£760 million, driven by a small increase in house sales and rising prices”.
CORPORATE: Crest Nicholson published Trading Update
They report “Over the last six weeks, the Group achieved a net open market sales rate achieved of 0.35” and “This compares to 0.48 in the first half and 0.55 in the same period last year”. They also report “Pricing pressure has remained particularly evident in bulk sales, where the Group continues to take a disciplined and selective approach to transactions” and “Build cost inflation remains in line with previous guidance of c.3-4%, mostly on materials”.
Chart of the Week
Earlier in the summer (though I’m convinced they back-date the releases online), the FCA published an FOI response on the number of regulated mortgage sales with longer mortgage terms and split by the age of the main borrower. The data goes back to January 2016 but I’ve chosen to just look at the latest financial year available (2025/26).
The chart below shows the distribution of mortgage sales and highlights the sharp drop-off in sales where the mortgage term would take the borrower beyond the age of around 75 years. For example, just 1.0% of mortgage sales with a term of 30 to <35 years, which will mostly be 30 year terms, were to borrowers aged 46 and above. Meanwhile, 97% of mortgage sales with a term of 40 or more years were to borrowers aged under 36.
