The February 2026 Halifax House Price Index (HPI) points to continued early‑year momentum in the UK housing market, with average property prices rising modestly and reaching a new record high.
While the headline figures suggest a resilient market, affordability pressures, constrained supply and regional variations continue to shape buyer behaviour.
Key statistics in February:
- Average UK house price: £301,151
- Monthly change: +0.3% (vs +0.8% increase in January)
- Annual growth: +1.3% (up from +1.1% in January)
- Notable trend: Northern Ireland and Scotland continue to record the strongest annual price growth, while southern regions remain subdued
Amanda Bryden, Head of Mortgages at Halifax, commented:
“The housing market built on its steady start to the year in February, with average prices rising by +0.3%, following an increase of +0.8% in January. Annual growth also picked up to +1.3%, its strongest rate for four months.
These latest figures suggest the market has regained some momentum after a softer end to 2025. While affordability remains stretched and supply is constrained, easing interest rates and real wage growth have helped support buyer confidence.”
What does this mean for first-time buyers?
The headline figures of a £301,151 average UK house price may seem deterring in some respects, but nonetheless, it does not reflect the types of properties many new buyers are targeting.
In practice, many first-time buyers continue to focus on smaller, more affordable homes, particularly in northern regions where average prices remain well below the national price. With wage growth continuing to outpace house price inflation and mortgage rates having eased compared to last year, conditions are gradually improving, even if affordability remains a challenge.
However, buyers are still proceeding cautiously, often taking longer to commit and seeking reassurance around mortgage affordability and overall transaction costs.
The next Halifax House Price Index is scheduled for release on Friday 3rd April.
