House Price Index Feb 2026
A high choice of homes for sale and no significant increase in buyer activity has kept house price growth in check in February. While most indices at the start of the year had anticipated improving mortgage affordability and a pickup in market activity, the recent conflict in the Middle East has introduced renewed inflationary pressures. As a result, mortgage rates have begun to rise in the near term, and the outlook for rate cuts this year has become more uncertain. Note that most of the house price indices published their reports before the start of the Iran conflict.
What’s happening nationally
House prices are up on average +0.1% this month and +1.2% in the past year.
House prices have increased slightly over the past month, +0.1% on average across the indices. Land Registry reporting January figures noted a fall of -0.3%, Nationwide +0.3% in February, Halifax +0.3% in February and Rightmove reports no change to February asking prices (after a rise of +2.8% in January). Rightmove isn’t included in our average change as they report on asking prices not sold prices.
Annual house price growth is up 1.2%, a slower rate of growth than last month (1.5%). The indices report the following shifts in annual house price growth over the past month: Land Registry (1.3% vs 2.4%), Nationwide (1% vs 1%), Halifax (1.3% vs 1%) and Rightmove reporting asking prices (0% vs +0.5%).
Indices based on:
Land Registry – registered property transactions in January.
Nationwide & Halifax – mortgage valuations in February.
Rightmove – asking prices posted on Rightmove in February.
*Rightmove is not included in the index average as the basis for its index is different (asking price vs agreed sale price)
| Index reports: | Monthly change | Annual change |
|---|---|---|
| Land registry | -0.3% | +1.3% |
| Nationwide | +0.3% | +1.0% |
| Halifax | +0.3% | +1.3% |
| Rightmove | +0% | +0% |
| Average change | +0.1% | +1.2% |
House prices in your area
Regional house prices
Apart from Northern Ireland (+7.5%), annual house price growth is relatively modest: +1.1% overall in England, +1.3% in Scotland and +2% in Wales.
Areas in England with a fall in house prices over the past year include: London (-1.7%), the South East (-0.5%) and South West (-0.1%). The highest rate of annual house price growth is in the North West (+3.1%) and Yorkshire & Humber (+3.0%).
Most expensive/ cheapest areas
In terms of average house price, the most expensive regions in the UK remain London (£554K), the South East (£380K) and the East of England (£336K). The cheapest regions are the North East of England (£158K), Scotland (£188K), Northern Ireland (£196K), Yorkshire & Humber (£206K) and Wales (£210K).
In terms of cities, the most affordable are: Aberdeen (£133K), Glasgow (£163K), Newcastle (£162K) and Sheffield (£177K). And, the most expensive cities in the UK are: London (£527K), Cambridge (£462K), Oxford (£449K), Bristol (£341K) and Bournemouth (£317K).
Prices by property type
House prices shifted in the last year for detached (+0.7%), semi-detached (+2.7%), terraced (+2.4%) properties and for flats/ maisonettes (-1.2%).
| UK Region | Average price £ | Monthly change | Annual change |
|---|---|---|---|
| England | |||
| Nothern Ireland | |||
| Scotland | |||
| Wales | |||
| North West | |||
| Yorkshire and The Humber | |||
| North East | |||
| West Midlands | |||
| East Midlands | |||
| South West | |||
| East of England | |||
| South East | |||
| London |
| UK City | Average price | Annual change |
|---|---|---|
Market Monitor
January 2026 transactions of 95K are down -5% vs December (100k) and steady vs transactions last January (95K).
In February 2026, RICS reports that buyer demand fell and new seller instructions held steady. Zoopla reports 6% more homes for sale than a year ago and expects this to rise further in the coming months, boosting choice for buyers and keeping house price growth in check.
The average time to secure a buyer reduced to 73 days from 81 days in January according to Rightmove; above the average over the last 12 months (which is 66 days).
How busy is the market?
- Not busy
- Normal
- Very busy
- Transactions in January 2026 are down
- Total transactions in January 95K
- -5% versus last month
- 0% vs last January
Homes for sale vs homebuyers
- Good availability of homes
- Normal
- Shortage of homes
- Buyer enquiries fall (-26% RICS Feb) 8th successive monthly fall
- Seller instructions steady (+2% RICS Feb) unchanged
- Average stock per agent 57 in February up from 56 in January (incl under offer/ Sold STC Rightmove)
Average speed of sale
- Fast
- Normal
- Slow
- February: 73 days to find a buyer, down from 81 days last month; above 12 month average of 66 days (Rightmove)
What the experts say
Rightmove
“Prices stand still in February but really need to be viewed alongside what happened in January. After the prolonged uncertainty in the run up to the late November Budget, plus the usual Christmas slowdown, we saw activity pick up again from Boxing Day. Many sellers, some of whom had been holding back because of the Budget, came to market in early 2026 with renewed confidence, which helped to drive that bumper January price rise. But the market fundamentals haven’t changed. There are still lots of homes for sale, and buying activity isn’t as strong as this time last year, when many buyers were rushing to move before the stamp duty increase in England. So in February, sellers have taken a more cautious approach by holding onto January’s gains rather than pushing prices higher, at a time when competition is high and the market is still very price-sensitive.”
Nationwide
“Annual house price growth remained steady at 1.0% in February. Prices increased by 0.3% month on month, after taking account of seasonal effects. This reinforces the view of a modest recovery after a dip at the end of 2025, most likely reflecting uncertainty around potential property tax changes ahead of the Budget. Nevertheless, the number of mortgages approved for house purchase remain close to the levels prevailing before the pandemic. Looking ahead, we expect housing market activity to strengthen a little further as affordability continues to improve gradually via income growth outpacing house price growth and a further modest decline in interest rates.”
Zoopla (Hometrack)
“The housing market is registering improved levels of market activity and subdued house price inflation – this is good news for buyers and sellers and represents a more stable market. Market conditions have improved but some headwinds remain. Conditions continue to vary widely across the country, making local market insight more important than ever. Affordability pressures and higher stamp duty costs continue to weigh on demand in southern regions. This is compounded by increased supply, with up to 16% more homes available in some areas. As a result, price growth is likely to remain modest in these areas through 2026.”
Halifax
“These latest figures suggest the market has regained some momentum after a softer end to 2025. While industry data for January show a slight easing in new mortgage approvals, overall activity has continued to prove resilient. Looking ahead, geopolitical uncertainties seem set to influence the outlook for inflation and the wider economy. Against that backdrop, markets are now anticipating a more gradual path for interest‑rate reductions. If realised, the speed at which borrowing costs ease may be tempered.”
RICS
“The February 2026 RICS Residential Market Survey results paint a mixed picture. While some contributors point to a more encouraging start to the year in terms of activity, more recently, this momentum appears to have been tempered by heightened geopolitical and macroeconomic uncertainty following the escalation of the conflict in the Middle East. As a result, near-term expectations have suffered a renewed setback, even though the twelve-month outlook for the market remains broadly positive for now.”
