Atom bank comments on slowing annual house price growth (ONS Private Rent and House Price data)

19 August 2026

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

“Today’s ONS figures paint a picture of a cautious housing market, with annual house price growth continuing to slow.

“Would-be buyers have seen the impact of global events on mortgage rates, and their own monthly outgoings, and so have been more wary about pursuing transactions. Rightmove has just reported the biggest drop in August asking prices since 2018, while the number of homes available has hit a 12-year high. Combined with research from Propertymark noting that homes are taking longer to sell, it seems clear that activity is being driven by only the most motivated parties.

“The path ahead remains uncertain, with news today of inflation accelerating sharply in July. The Bank of England held base rate but has said it is ready to raise interest rates if the Iran conflict drags on, which will have an impact on buyer confidence. And we are still waiting to see precisely what Andy Burnham’s vision for the housing market will be. Until that picture becomes a bit clearer, the market will continue to be dominated by those who need to move, rather than those testing the waters.”