The average UK home price rose 0.2 percent in June to £299,330, according to Lloyds’ latest house price index, ending three straight monthly falls and nudging annual growth up to 0.6 percent.
The latest update leaves prices broadly flat over the quarter, with values still 0.4 percent lower than three months ago. For landlords, that matters because it points to a market that is stabilising rather than racing away – a backdrop that may keep acquisition opportunities open while borrowing costs remain the bigger constraint.
That timing matters. With lenders still repricing buy-to-let deals and transaction levels under pressure, a modest monthly rise is less a signal of renewed momentum than a sign that sellers and buyers are adjusting to a higher-rate market.
Regional trends still favour selective landlords
Lloyds said Northern Ireland recorded the strongest annual growth at 7.4 percent, while Scotland rose 3.9 percent and Wales 0.9 percent. In England, the North East led at 2.8 percent, ahead of the North West at 2.4 percent.
By contrast, the South East was down 2 percent year on year and London fell 1.1 percent. That split is likely to keep investor attention on lower-entry regional markets where yields still stack up more comfortably against finance costs.
Recent Nationwide data showing annual house price growth at 2.2 percent in June already suggested a market moving in small steps rather than big swings. It also sits alongside Zoopla’s finding that three in five homes listed since January were still unsold at the end of June, which points to pricing discipline becoming more important.
Mortgage costs still set the pace
Lloyds’ latest housing market update said affordability remains stretched even as mortgage rates have eased from recent highs. That is the real balancing force in the market. A small monthly rise in values does not change the fact that many landlords still need lower funding costs or sharper purchase pricing before new deals look compelling.
This follows Landlord Knowledge’s report on Rightmove’s June data, which found asking prices had posted their sharpest June drop in 14 years. The latest Lloyds figures suggest completed pricing is proving firmer than top-of-the-funnel seller expectations, but not by enough to point to a broad-based rebound.
A practical warning for landlords is that regional divergence is now doing more of the work than national averages. A flat national picture can still hide better entry points in cities where stock levels are up and sellers are negotiating harder.
What this means for landlords
- If you’re buying: modest national growth does not end the buyers’ market in weaker regions, so local comparables matter more than headline indices.
- If you’re refinancing: funding costs are still the bigger swing factor than price growth, especially where yields are tight.
- Watch for: whether summer mortgage repricing feeds through faster than new asking-price cuts.
- Bottom line: prices are steadier, but landlords still need selective buying rather than broad confidence.
Editor’s view
June’s rise is useful, but hardly decisive. For landlords, the smarter read is that the market is no longer falling cleanly, yet it still is not strong enough to forgive a bad purchase or an expensive refinance.
Author: Editorial Team – UK landlord & buy-to-let news, policy, and finance
Published: 08 July 2026
Sources: Lloyds Banking Group
Related reading: Nationwide: annual house price growth hits 2.2% in June
