In the City: Is the UK Housing Market Running Out of Steam?
Leaders with Francine Lacqua
Bloomberg
4.6 • 64 Ratings
🗓️ 3 July 2025
⏱️ 23 minutes
🧾️ Download transcript
Summary
Just a few months ago, the UK housing market seemed to be finding its footing. That hope has since faded. In June, house prices fell to their lowest rate in over two years, according to new figures from Nationwide Building Society. This surprised economists who had been expecting a small uptick. The decline follows the government’s April decision to raise transaction taxes—a move that’s added to the burden for buyers already grappling with high borrowing costs.
On this week’s In the City, host Allegra Stratton is joined by Bloomberg Opinion columnist Marcus Ashworth and European real estate reporter Damian Shepherd to examine the UK housing market’s slowdown—and what might come next.
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Transcript
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| 1:01.2 | Bloomberg Audio Studios, podcasts, radio news. Welcome to In The City. Each week we unpack a story that's crucial to the world's financial |
| 1:20.8 | capitals. I'm Allegra Stratton. So the UK housing market has been under pressure for some time, |
| 1:27.1 | but now the data is catching up. |
| 1:29.8 | In June, house prices recorded their sharpest drop in more than two years. That's according to |
| 1:34.6 | nationwide building society. The fall came as a surprise. Economists had actually expected a small |
| 1:40.9 | uptick. This latest decline follows the government's move in April to raise transaction |
| 1:46.6 | taxes. It's a change that's made life even harder for buyers already dealing with high |
| 1:51.3 | borrowing costs. And if you zoom in on the luxury end of the market, the picture gets even bleaker. |
| 1:57.7 | London's prime property sector, once a safe haven for global capital, is in a drawn |
| 2:02.9 | out slide. Prices are now more than 20% below their peak, with no real signs of a rebound. |
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