The March 2026 Halifax House Price Index indicates that the UK housing market is showing signs of slowing as spring begins. Average property prices fell slightly following small increases earlier in the year, and while values remain higher than a year ago, ongoing uncertainty is beginning to weigh on buyer confidence.
Key statistics to note:
- Average UK house price: £299,677
- Monthly change: -0.5% (in comparison to +0.3% in February)
- Annual growth: +0.8% (down from +1.2% in February)
- Notable trend: Northern Ireland continues to be at the forefront of the annual growth, with prices up +8.7% year on year to £224,809.
Amanda Bryden, Head of Mortgages at Halifax, said:
“The effect on house prices will largely depend on how long lasting these pressures prove to be and the wider implications for the economy and unemployment. Mortgage rates are a key factor for buyers, particularly those getting on the ladder for the first time, who are already balancing the challenge of saving a deposit, with the cost of borrowing. As a result, many are likely to watch movements in mortgage rates closely, before making a decision on any home purchase. In this environment, professional advice can play an important role in helping people understand their options and make informed decisions that are right for their individual circumstances.
However, the recent increase in UK mortgage rates has been more modest than the sharp rises seen during the mini budget of 2022. Further, many households will already be on fixed deals, protecting them from the latest rate rises. Taking all this into account, house prices may prove resilient, even if uncertainty weighs on market activity in the near term.”
The next Halifax House Price Index is scheduled for release on Friday 8th May 2026.
