House Price Index

UK house prices stand still in February but still strongest start to a year for prices since 2020

Release date: February 16th 2026

Key takeaways

• The average asking price of newly listed UK homes for sale is £368,019, almost unchanged in February compared with January
• However, January’s record asking price increase for the time of year means that 2026 is still off to a strong start
• House price trends suggest that 2026 is shaping up to be a good year to buy, thanks to better affordability and plenty of homes on the market
• The average two-year fixed mortgage rate is now 4.28%, significantly down from the 4.96% figure a year ago*

The average price of newly listed homes for sale is virtually flat in February, down by just £12 (-0.0%) to £368,019, according to the February 2026 UK house price monthly index.

Despite the standstill in prices in February, January’s record asking price increase for the time of year means that it is still the strongest start to a year for asking prices since 2020, with prices up by 2.8% since December.

Early year price growth was front-loaded into January as confidence rebounded after the prolonged Autumn Budget uncertainty. However, high choice of homes for sale and steadying buyer activity have prevented a February rise.

Is 2026 a good year to buy?

Yes, 2026 is shaping up to be a good year to buy. This is because of improved affordability and plenty of choice:

• Average property prices are the same as a year ago. This is particularly beneficial to first-time buyers saving up their first deposit
• Average earnings are up by 4.7% year-on-year, outpacing the last three years of cumulative property price growth
• The number of homes for sale is at an 11-year high for this time of year, giving buyers more choice and negotiating power
• Lenders are continuing to offer ways for eligible buyers to borrow more
• Average mortgage rates are still near their lowest level since September 2022’s mini-Budget*
• Rightmove’s daily tracker shows that the average two-year fixed mortgage rate is now 4.28%, significantly down from the 4.96% figure a year ago*

The numbers at a glance

Expert comment

*Data provided by specialist mortgage technology provider Podium Solutions. The data covers 95% of mortgage lending, to exclude specialist lenders.

Average asking price trends

Show all rows

As the graph above shows, house prices remained level from January into February 2026. However, the steep upward curve from December 2025 into January 2026 shows the record January ‘bounce’ in pricing that gives 2026 such a strong start.

Show all rows

The graph above illustrates house price trends in the UK over the past five years. Here you can see the seasonal pricing peak during summer months that dips into November and December as market activity reduces.

Show all rows

This graph shows how house prices have increased or decreased over the past year. The 2.8% rise in January was due to confidence rebounding after prolonged uncertainty around the Autumn Budget. The 0% change in February reflects the high choice of homes available for sale, as well as steadying buyer activity. 

Show all rows

The chart above shows the average of the number of homes per agent across the UK. The number of homes for sale is now at an 11-year high for this time of year.

Show all rows

Here we can see the monthly average number of days it takes for a seller to secure a buyer in the UK. In January 2026 this was 81 days, compared with 59 days in April and May of 2025.

This average gives an idea of how active the property market is, and how accurately people are pricing their properties. For example, properties that are priced too high will usually take longer to secure a buyer.

Regional map

Show all rows

This map shows the UK house price index by region, showing how property price trends vary considerably for different parts of the UK. Here we see that Scotland experienced the biggest house price increase in February at 4.1%, with the North East seeing a 2.4% drop.

London trends

Show all rows

This graph shows the monthly average number of days it takes for a seller to secure a buyer in London. This gives an idea of how active the property market is there, and also how accurately people are pricing their properties in the Capital.

Affordability trends

Show all rows

On the graph above, the first-time buyer monthly mortgage payment is based on Bank of England data of the averages for 90% LTV two-year fixed mortgages from lenders, and the average asking price of a typical first-time buyer home (two bedrooms or fewer) using the Rightmove House Price Index. The equivalent monthly rent is calculated using the same property types (two bedrooms or fewer).

Show all rows

This affordability graph is based on the Average Weekly Earnings (AWE) dataset from ONS multiplied by 4.5 to get the typical maximum that a person can borrow from a lender. The average asking price of a typical first-time buyer home is taken from the Rightmove House Price Index.