UK House Prices Drop 0.6% in October as Lloyds Data Shows Sharpest Monthly Fall in a Year

Lloyds Bank reported that UK house prices fell 0.6% in October on a monthly basis, the sharpest single-month decline in a year, according to data released on November 6. The average UK house price held flat at £296,285, unchanged from September, while the annual rate of change showed a decline of 1.2% year on year, per Lloyds figures cited by financialjuice. Lloyds attributed the pressure to a challenging economic backdrop testing housing demand.

Some sources reported the figures differently: LiveSquawk and marketsday cited a monthly gain of 0.6% and an annual rise of 1.2%, compared with flat readings of 0.0% in both measures the prior month. The discrepancy likely reflects rounding or revision differences in how the index was reported across wires, though the flat average price of £296,285 lends weight to the softer interpretation.

Separately, property portal Rightmove raised its 2026 earnings growth forecast to 7%, even as it acknowledged difficult conditions in the UK housing market. The move signals confidence in transaction volumes and digital listings activity despite the broader affordability and demand headwinds flagged by Lloyds.