UK house prices edged up by 0.2% in June compared with May, the first monthly increase in four months, according to figures from the lender Lloyds. The rise matters because it suggests the housing market may be steadying after a period of subdued activity, driven largely by mortgage rates easing from recent highs even as broader economic and geopolitical uncertainty persists.

The average UK home now costs £299,330, with prices up 0.6% year-on-year. Northern Ireland was the strongest performer, with annual growth of 7.4%, while London remained the most expensive region at an average of £534,831 despite a 1.1% annual fall; the south east was the weakest, down 2%. Lloyds' Amanda Bryden linked the trends to inflation and interest rate expectations, and industry figures expect a measured recovery if borrowing costs keep falling, though affordability remains stretched. Elsewhere, oil prices rose after reports of an attack on a vessel near the strait of Hormuz, and Asian stocks fell amid pressure on the chip sector.