House Prices Hold Steady After January Jump
- Sarah Ruivivar
- 4 days ago
- 2 min read
After a record-breaking January, house prices have decided to take a breather this February.
Rightmove reports that the average asking price has barely budged, dropping a mere £12 to £368,019. While February usually sees a 0.8% rise, this year’s standstill is a bit of a surprise.
January’s price leap was a whopper, making the start of 2026 the strongest since 2020. This early-year boost was fuelled by newfound buyer and seller confidence as Budget uncertainties cleared up. But now, with market realities settling in, sellers are holding steady rather than hiking prices further.
Despite this calm, competition among sellers remains fierce, reaching an eleven-year high. Buying activity has cooled compared to last year’s stamp duty scramble, but it’s still stronger than in 2024. Newly listed properties are just shy of last year’s numbers but up a whopping 11% from two years ago.
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For 2026 movers, the outlook is rosy. With the spring selling season on the horizon, stable prices are a boon, especially for first-time buyers. Average earnings have risen 4.7% annually, comfortably outpacing property price growth, giving buyers more bang for their buck.
Mortgage rates are also playing nice, hovering close to pre-mini-Budget lows. Rightmove’s tracker shows a two-year fixed rate at 4.28%, down from last year, saving new buyers around £100 monthly. Plus, lenders are getting creative with flexible Loan-to-Income limits and innovative mortgage options.
So, while February might be a snooze for prices, it’s a dream for buyers ready to pounce!
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