UK house prices rose in June for the first time since before the onset of the Iran war, according to the latest Lloyds house price index (previously the Halifax HPI). The typical property cost £299,330, a 0.2% monthly increase that reversed May's 0.2% fall, though values remain narrowly below where they stood at the start of the year. The rise matters as a tentative sign of recovery in a market unsettled by months of geopolitical and economic uncertainty.

The US-Israeli missile strikes on Tehran on 28 February triggered a four-month war that pushed up oil prices and inflation, turning expected Bank of England rate cuts into fears of rises. With oil now back around prewar levels and mortgage rates easing, Lloyds' Amanda Bryden said affordability remains stretched but conditions are improving. First-time buyer demand looks resilient, with annual growth at 0.8%. Northern Ireland led regional growth at 7.4%, while southern England and London saw prices fall.