February 2026 | Rightmove House Price Index
The UK property market has started 2026 strong, with average asking prices holding steady in February after January’s record rise. Buyers are benefiting from improved affordability, abundant choice, and historically low mortgage rates, making this an encouraging time to explore the market.
Prices Hold in February, Strongest Start to 2026 Since 2020
While February saw prices hold steady, the start of 2026 has been the strongest for asking prices since 2020. Average prices of newly listed homes were virtually flat, down just £12 (-0.0%) to £368,019.
Despite the February pause, January’s record price growth has set the tone for a robust start to the year, with prices up 2.8% since December.
Early-year price growth was front-loaded into January as buyer confidence rebounded following prolonged Autumn Budget uncertainty. However, a high choice of homes for sale and steady buyer activity prevented a further rise in February.
Buyer Opportunities in 2026
The outlook for buyers looks positive, with improved affordability and plenty of choice on the market:
- Average property prices are the same as a year ago, particularly beneficial for first-time buyers saving for a deposit.
- Average earnings are up 4.7% year-on-year, outpacing cumulative property price growth over the last three years.
- The number of homes for sale is at an 11-year high for this time of year, giving buyers more options and stronger negotiating power.
Mortgage Market Insights
Mortgage conditions are supporting affordability and fueling early-year activity:
- Lenders continue to offer ways for eligible buyers to borrow more.
- Average mortgage rates remain near their lowest levels since September 2022’s mini-Budget.
- Rightmove’s daily tracker shows the average two-year fixed mortgage rate is 4.28%, down from 4.96% a year ago.
Looking Ahead: 2026 Market Outlook
With steady prices, strong early-year momentum, and abundant choice, 2026 is shaping up as a favorable year for buyers. Realistic pricing and careful planning will be key for sellers looking to attract confident buyers in a market where demand remains strong.
What This Means for Buyers
More homes on the market, easing mortgage rates, and improved affordability make early 2026 a good time to explore options. First-time buyers in particular could benefit from the combination of stable prices and increased choice.
All the information in this update comes from Rightmove’s House Price Index. Click here to read the full report.
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