House Price Index - April 2026

Housing market remains steady despite higher mortgage rates

The housing market has so far remained steady in 2026, despite mortgage rates rising fast in recent weeks due to the uncertainty caused by the war in Iran.

Buyer demand in April to date is 7% down compared to the same period in 2025. While demand is lower than last year, this trend was also seen in February and March, when demand was also 7% lower than the previous year.

The reason for this is that 2025 was a particularly strong market, as buyers were trying to complete their home purchases before stamp duty rose. This, plus the timing of the Easter holidays this year, makes it difficult to draw comparisons with activity in 2025.

It’s also still too early to understand how the war in Iran is affecting the market, but next month should give us more insights.

Is 2026 a good year to buy?

Despite market challenges, 2026 is still shaping up to be a good year to buy, for a number of reasons:

• Average earnings are still up by 3.9% annually, while asking prices for properties are down 0.9% year-on-year.
• A typical mover is also now able to borrow more, due to last year’s review of the Loan-To-Income cap and reminder to lenders about stress testing flexibility by the Financial Conduct Authority.
• Demand has so far proven most resilient among first-time buyers (-6%), suggesting higher mortgage rates are not putting off first-time buyers from enquiring, at least for now.
• The number of sales agreed for April to date so far this year is also staying steady, as we are currently just 3% behind this time last year.

What are mortgage rates doing?

Rightmove’s daily mortgage tracker shows that the average two‑year fixed rate has risen to 5.42%, from 4.25% before the start of the war in Iran. This adds an average of around £235 per month to a typical new mortgage.*

“Financial markets are now largely pricing in further Bank of England Base Rate increases this year rather than cuts,” explains Rightmove’s mortgages expert Matt Smith. “This has fed through into higher mortgage rates compared with earlier in 2026 and this time last year.

“The initial shock appears to have passed, with mortgage rates stabilising over the past couple of weeks, but they remain elevated. The next moves will depend on upcoming UK inflation data and how the Bank of England responds.”

The numbers at a glance

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

Expert comment

Colleen Babcock, property expert at Rightmove:

“With mortgage rates remaining elevated due to the war in Iran, it’s not a surprise that price growth is proving strongest in parts of the market less exposed to higher borrowing costs. Across Great Britain, Scotland stands out as an example of resilience, with average prices rising by over 4%.

“Lower average asking prices and a faster home-buying process continue to support price growth in the Scottish market. However, for most of the market, the combination of rising mortgage rates and the number of homes for sale being at its highest level for the time of year over a decade, means that competitive pricing is crucial for sellers looking to attract buyer interest and secure a sale this spring.

“Some buyers will be feeling cautious due to cost of living and mortgage rate increases. However, the latest data shows that, at least for now, home-movers are largely showing their usual resilience with their housing needs trumping other events. While higher mortgage rates negatively affect affordability, many buyers are also benefiting from rising wages, lower house prices and more flexible borrowing criteria than in recent years, which all help affordability.”

Average asking price trends

Monthly average asking price trend

This graph shows the steady 0.8% price increase seen in April to £373,971. This is lower than the long-term average for prices in April, which is +1.2%.

Show all rows

5 year asking price trend

This data shows average asking prices in the UK over the past five years. Here you can see the usual seasonal pattern for prices, including the usual rise as we head into the spring.

Show all rows

Monthly changes in average asking prices

Here we see how much house prices have increased or decreased each month over the past year. The 0.8% increase for April 2026 reflects the spring selling season, but is lower than the long-term average for this month.

Show all rows

Average stock per agent

Here we see the average of the number of homes per agent across the UK. The number of homes currently for sale is only 1% behind 2025, and 13% higher than in 2024.

Show all rows

Time to secure buyer (National)

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.

Show all rows

Regional map

UK House Price Index by region

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 again saw the biggest house price increase in April at 4.3% higher than in March.

Show all rows

London trends

Time to secure a buyer in London

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.

Show all rows

Affordability trends

Average monthly amount spent on a first-time buyer home

On the graph below, 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

Ability to afford a first-time buyer home

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.

Show all rows