Housing market to soften amid Iran war fallout, Nationwide says
By Nick Edser
Published on March 31, 2026.
The UK's housing market is expected to soften due to rising mortgage and energy costs due to the impact of the Iran war, according to Nationwide. The bank reported a 0.9% increase in house prices for March, but warned that the surge in energy prices was a significant shock to the global economy. The Bank of England is now expected to raise interest rates to counter inflation. The average two-year fixed rate has risen to 5.75%, up from 4.83% at the start of March, and the average five-year rate is now at its highest level since July 2024.
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