According to data from the All England Mortgage Association, housing prices in the UK rose in August, indicating that despite the impact of the ongoing conflict between the US and Iran on the economy, housing demand remains resilient. The average house price in the UK rose 0.2% in August to £2754.65 million, reversing a revised 0.1% decline in the previous month. Housing price performance in August was slightly better than the 0.1% increase expected by economists. This data suggests that the UK real estate market may be weathering the impact of the Middle East conflict. Sufficient savings buffers for residents and cost-of-living measures introduced by Prime Minister Andy Burnham to boost market sentiment are helping maintain demand for housing. However, energy costs are still high, and housing prices have fallen in 2 out of the past 4 months. The overall economic sentiment in the UK is likely to deteriorate further. Iran's energy shock has dampened the market's hopes of cutting interest rates. Traders currently expect the Bank of England to raise interest rates by 25 basis points before the end of the year. At the same time, speculations surrounding a possible tax increase in the new Chancellor of the Exchequer John Healy's first budget may further dampen the will of potential homebuyers.

According to data from the All England Mortgage Association, housing prices in the UK rose in August, indicating that despite the impact of the ongoing conflict between the US and Iran on the economy, housing demand remains resilient. The average house price in the UK rose 0.2% in August to £2754.65 million, reversing a revised 0.1% decline in the previous month. Housing price performance in August was slightly better than the 0.1% increase expected by economists. This data suggests that the UK real estate market may be weathering the impact of the Middle East conflict. Sufficient savings buffers for residents and cost-of-living measures introduced by Prime Minister Andy Burnham to boost market sentiment are helping maintain demand for housing. However, energy costs are still high, and housing prices have fallen in 2 out of the past 4 months. The overall economic sentiment in the UK is likely to deteriorate further. Iran's energy shock has dampened the market's hopes of cutting interest rates. Traders currently expect the Bank of England to raise interest rates by 25 basis points before the end of the year. At the same time, speculations surrounding a possible tax increase in the new Chancellor of the Exchequer John Healy's first budget may further dampen the will of potential homebuyers.