A headline saying prices rose can sit beside another saying they fell. Before drawing a conclusion, check what each series measures, the period covered and whether the comparison is monthly or annual. Different samples can produce different answers.
Three different stages of the market
| Type of measure | What it tells you | Its limitation |
|---|---|---|
| Asking prices | The advertised price sought by sellers. | An asking price is not an agreed sale or completed transaction. |
| Mortgage-based indices | Prices in a lender’s eligible mortgage sample, using that series’ methodology. | They do not cover every purchase or every cash buyer. |
| UK House Price Index | Registered residential sales, including cash and mortgage purchases. | Registration takes time; recent figures can be revised. |
Sources: HM Land Registry’s UK HPI explanation and Nationwide’s methodology.
Check the date and the comparison
Publication month and observation month are not always the same. Annual growth compares with the same month a year earlier; monthly growth compares adjacent months. A seasonally adjusted number aims to account for recurring seasonal patterns. Do not mix these measures in one comparison.
What does that mean for a larger purchase?
A UK average is not a valuation of a particular London flat, country house or unusual property. Start with the actual property, comparable transactions and the lender’s valuation requirements. If the valuation is below the agreed price, your deposit and loan-to-value calculation may change. Read the larger-loan valuation shortfall guide.
For buyers living overseas
Keep the property price in sterling separate from the cost of exchanging your deposit. A movement in the housing index does not cancel out currency movements, legal costs or the lender’s requirements. Prepare your location, income currency, deposit evidence and intended use of the UK property.
Explore international mortgages · Larger mortgage planning · Monthly market headlines
Prepared for Jack Cousins. Checked 9 November 2026. General information, not a property valuation, forecast or mortgage offer.