Atom bank comments on ONS Private Rent and House Price data

22 July 2026

Chris Storey, Chief Commercial Officer, Atom bank, comments:

“House prices are continuing to feel the effects of events outside of the market itself. The conflict in Iran, and the resulting impact on interest rate forecasts, has understandably led some potential buyers to pause their plans, and that is feeding through into the modest growth we are seeing currently. With the ceasefire failing, that uncertainty is likely to carry on.

“Despite these challenges, recent analysis from the Royal Institution of Chartered Surveyors (RICS) suggests the market is stabilising, with some improvements seen on new buyer enquiries and agreed sales. Mortgages are becoming far more competitive too, with Moneyfacts reporting the biggest fall in average rates in two years between June and July.

“The new Prime Minister, Andy Burnham has promised a dramatic improvement in the number of council houses built across the country, but he will also need to oversee an improvement in the number of private developments if we are to ensure home ownership becomes more affordable and achievable.”