Common price ticket on a house falls by £12 in February after document January bounce

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Your help makes all of the distinction. Learn extra The typical price ticket on a house edged down by £12 month-on-month in February following a document bounce of practically £10,000 in January, based on a property web site.

Throughout Britain, the common asking value for a house coming available on the market in February is £368,019, Rightmove mentioned.

In January, the common price ticket on a house was £368,031.

Rightmove beforehand mentioned the £9,893 common asking value enhance seen in January 2026 was the most important for the month of January in its 25 years of home value research.

Over the previous decade, asking costs in February have sometimes elevated by 0.8% month-on-month.

However regardless of the common asking value standstill in February, January’s document asking value enhance for the time of 12 months signifies that 2026 continues to be the strongest begin to a 12 months for asking costs since 2020, with costs up by 2.8% since December, Rightmove mentioned.

It mentioned early 12 months value progress was front-loaded into January as confidence rebounded after a protracted interval of uncertainty surrounding the autumn funds.

Colleen Babcock, property skilled at Rightmove, mentioned: “Nearly flat costs in February actually must be seen alongside what occurred in January.

“After the extended uncertainty within the run as much as the late November funds, plus the standard Christmas slowdown, we noticed exercise choose up once more from Boxing Day.

“Many sellers, a few of whom had been holding again due to the funds, got here to market in early 2026 with renewed confidence, which helped to drive that bumper January value rise.

“However the market fundamentals haven’t modified. There are nonetheless plenty of properties on the market, and shopping for exercise isn’t as sturdy as this time final 12 months, when many consumers had been dashing to maneuver earlier than the stamp responsibility enhance in England.

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“So in February, sellers have taken a extra cautious strategy by holding onto January’s positive aspects slightly than pushing costs increased, at a time when competitors is excessive and the market continues to be very price-sensitive.”

Rightmove mentioned that, this time final 12 months, a looming stamp responsibility deadline on the finish of March was affecting the market in England, as consumers rushed to finish gross sales.

It mentioned that, in contrast with 2024, present tendencies look stronger.

The variety of newly listed properties on the market is 11% increased than two years in the past, whereas the variety of gross sales agreed is 9% increased than right now in 2024.

Ms Babcock added: “2026 is shaping as much as be a great 12 months to purchase. During the last three years common wages are up by round 17%, considerably outstripping property costs that are up by simply 1.5% over the identical interval.

“A extra beneficial mortgage fee and lending surroundings are each additionally serving to to enhance purchaser affordability. For many who are prepared to maneuver quickly, February might supply a helpful window of alternative to behave earlier than the height spring promoting season, when costs often rise.”

Matt Smith, a mortgage skilled at Rightmove, mentioned: “Final 12 months’s evaluate of the loan-to-income cap and reminder to lenders about stress testing flexibility by the FCA (Monetary Conduct Authority), have had the supposed constructive end result of enabling the standard purchaser to borrow extra.

“On prime of this, there continues to be a powerful focus from lenders on serving to first-time consumers, with many lenders creating new merchandise to assist eligible consumers to borrow bigger sums.”

Craig Webster, managing director, Tiger Gross sales & Lettings in Blackpool, mentioned: “Sellers have gotten extra real looking as competitors stays excessive, however demand stays resilient.

“For consumers, situations are enhancing. Mortgage charges are trending down, lenders are more and more aggressive and importantly wage progress has outpaced home value progress in latest durations, serving to affordability.”

He added: “As we head into the busy spring market, those that are ready and decisive are prone to be within the strongest place.”

Katie Griffin, director at Sawdye & Harris in Dartmoor, mentioned: “Spring is all the time our busiest time, and I feel we’ll see improved exercise if sellers proceed to cost sensibly. There’s real purchaser demand on the market – individuals have simply been ready for the appropriate second and the appropriate property on the proper value.”

The report was launched as analysis from property agency Savills estimated the full worth of properties throughout the UK now stands at £9.18 trillion.

It took into consideration the full worth of properties owned outright, with a mortgage, social housing and the non-public rented sector.

The full worth of the UK’s housing inventory grew by a further £136 billion in 2025 however this was smaller than £268 billion added in worth the 12 months earlier than, Savills mentioned.

Lucian Cook dinner, head of residential analysis at Savills, mentioned: “Though the full worth of UK housing has continued to edge up over the previous 12 months, the capital appreciation of £336 billion because the finish of 2022 is the bottom now we have seen for a three-year interval since 2013.

“That partly displays the preliminary strain placed on costs as mortgage prices rose over the course of 2023.

“However equally the housing market has been sluggish to reply to latest cuts in (the Financial institution of England) base fee.

“This mixed with an absence of value progress throughout London and the South East, the place values are highest, and falling ranges of home constructing has saved a lid on the combination quantity.”

Regardless of the North of England and the devolved nations accounting for under 27% of the worth of all UK properties, they've contributed 60% of complete progress since 2022, Savills mentioned.