House Price Index Mar 2026
House prices edged up and completed transactions rose 5%, reaching their highest level since February last year. However, the outlook for market activity may be weighed down by the Middle East conflict. Markets now price in three interest rate hikes over the next 12 months, rather than two previously expected cuts, pushing mortgage rates higher. As a result, buyer demand is beginning to soften, with more early-stage movers taking a wait-and-see approach. This is likely to put downward pressure on house prices in the near term.
What’s happening nationally
House prices are up on average +0.2% this month and +1.4% in the past year.
House prices have increased slightly over the past month,+0.2% on average across the indices. Land Registry reporting February figures +0.1%, Nationwide +0.9% in March, Halifax -0.5% in March and Rightmove +0.8% rise in asking prices. Rightmove isn’t included in our average change as they report on asking prices not sold prices.
Annual house price growth is up 1.4%, up from 1.2% last month. The indices report the following shifts in annual house price growth over the past month: Land Registry (1.2% vs 1.3%), Nationwide (2.2% vs 1%), Halifax (0.8% vs 1.3%) and Rightmove reporting asking prices (-0.2% vs 0%).
Indices based on:
Land Registry – registered property transactions in February.
Nationwide & Halifax – mortgage valuations in March.
Rightmove – asking prices posted on Rightmove in March.
*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 | +0.1% | +1.2% |
| Nationwide | +0.9% | +2.2% |
| Halifax | -0.5% | +0.8% |
| Rightmove | +0.8% | -0.2% |
| Average change | +0.2% | +1.4% |
House prices in your area
Regional house prices
Apart from Northern Ireland (+7.5%) Q4 2025 figures, annual house price growth is modest: +0.8% overall in England, +2.3% in Scotland and +2.5% in Wales.
We are beginning to see more significant falls in annual house price growth in London (-3.3%), the South East (-0.9%) and South West (-0.6%).
Most expensive/ cheapest areas
In terms of average house price, the most expensive regions in the UK remain London (£542K), the South East (£376K) and the East of England (£335K). The cheapest regions are the North East of England (£163K) but one of fastest house price growth +3.6%, Scotland (£187K), Northern Ireland (£196K), Yorkshire & Humber (£209K), highest annual growth in England +3.9% and Wales (£210K).
In terms of cities, the most affordable are: Aberdeen (£133K), Glasgow (£164K), Newcastle (£162K) and Sheffield (£178K). And, the most expensive cities in the UK are: London (£528K), Cambridge (£461K), Oxford (£450K), Bristol (£341K) and Bournemouth (£318K).
Prices by property type
House prices shifted in the last year for detached (+1.6%), semi-detached (+2.9%), terraced (+1.8%) properties and for flats/ maisonettes (-2.6%).
| 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 | |||
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| East of England | |||
| South East | |||
| London |
| UK City | Average price | Annual change |
|---|---|---|
Market Monitor
February 2026 transactions of 102.4K are up +6% vs January (97k) and down -6% vs transactions last February (108.4K), the period preceding the change to stamp duty.
In March 2026, buyer demand fell to the softest reading since the summer of 2023 and new seller instructions softened according to RICS.
The average time to secure a buyer reduced to 66 days from 73 days in February according to Rightmove; in line with the average over the last 12 months (which is 67 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 (-39% RICS Mar) biggest fall since summer 2023
- Seller instructions down slightly (-6% RICS Mar)
- Average stock per agent 59 in March up from 57 in February (incl under offer/ Sold STC Rightmove)
Average speed of sale
- Fast
- Normal
- Slow
- March 66 days down from 73 days last month; above 12 month average of 67 days (Rightmove)
What the experts say
Rightmove
“Market activity in March appears stable so far despite the new geopolitical uncertainty created by the Iran war. The latest real-time snapshot of daily market activity at the time of writing shows that the number of sales being agreed is only 2% behind the strong market of this time last year, and 5% ahead of 2024. This suggests that home-movers are continuing with deals despite headlines about potential mortgage rate rises and increases to fuel and energy costs. In addition, the number of new listings coming onto the market over the same period is just 3% behind last year, and 7% ahead of 2024. These stats suggest that seller confidence has so far remained resilient, with many continuing to take advantage of the spring selling window. New buyer demand was already running 7% lower than in last year’s busier market but has fallen no further since the beginning of the Iran war. It’s too early to assess what the full impact of these geopolitical events on the market. However, Rightmove has not seen the same kind of immediate and sharp response from movers that there was to previous events, such as stamp duty changes or the rapid mortgage rate rises in September 2022.”
Nationwide
“The pickup in house price growth suggests that the market had regained momentum after the slowdown recorded around the turn of the year. However, the sharp rise in global energy prices in response to developments in the Middle East represents a significant shock to the global economy, clouding the outlook. Financial market expectations for the future path of Bank Rate have shifted dramatically. Towards the end of March, three interest rate increases were priced in over the next twelve months, compared to two rate cuts being anticipated before the strikes on Iran. This shift has resulted in a sharp rise in longer term interest rates (swap rates) that underpin fixed rate mortgage pricing. If sustained, this could reverse some of the improvement in housing affordability that has taken place in recent years. With consumer sentiment also likely to be dented by the uncertain outlook and the prospect of rising energy costs, housing market activity is likely to soften.”
Zoopla (Hometrack)
“Buyer demand weakened in March, now 13% below last year, as more early-stage movers adopt a ‘wait and see’ approach. This reflects growing caution among households looking to move in the face of higher mortgage rates and concerns over the cost of living. But those who remain are serious and still getting deals done. Higher mortgage rates are making buyers more cautious, which means pricing correctly is more important than ever for sellers.”
Halifax
“House prices fell -0.5% in March, following the modest +0.3 per cent increase seen in February. The pace of annual growth has also eased, slowing to +0.8 per cent from +1.2 per cent the previous month, suggesting the market has lost some momentum as spring begins. The recent slowdown in the housing market reflects the wide uncertainty regarding the conflict in the Middle East. Concerns about higher energy prices have pushed up inflation expectations, which in turn led to a rise in mortgage rates, reducing confidence that interest rates will be cut this year and dampening the initial momentum in the market seen at the start of the year.”
RICS
“The March 2026 RICS UK Residential Market Survey results show the macro-related fallout linked to the conflict in the Middle East is taking its toll on both current activity and forward-looking sentiment. With intensifying inflationary pressures pushing borrowing costs higher, buyer demand has weakened, while near-term expectations have turned significantly more cautious over the month.”
