UK house price growth stalled in March 2026, according to the latest UK House Price Index, with average prices showing no annual growth compared with the 1.7% increase recorded in February.

The figures mark the weakest annual performance for the housing market since April 2024, reflecting ongoing affordability pressures, elevated mortgage costs and wider economic uncertainty.

Regional performance remained mixed, with northern regions and Scotland continuing to outperform while London remained among the weakest-performing areas. Rental growth, however, continued to strengthen across much of the country, supported by ongoing supply shortages in the private rented sector.

Analysts said higher borrowing costs and geopolitical uncertainty are continuing to weigh on buyer confidence and transaction levels, despite recent reductions in the Bank of England base rate.

Adrian Benosiglio, national real estate and construction corporate tax lead at RSM UK, said: “Despite the official Bank of England base rate decreasing over the last year, mortgage rates are on the rise, significantly increasing borrowing costs for buyers and those remortgaging.”

He added that affordability and purchasing power are becoming increasingly constrained, delivering “a concerning blow to market demand”.

The figures reinforce the increasingly regional nature of the housing market, with affordability, borrowing costs and rental demand continuing to shape both investor activity and house price performance.