06.03.202607:10:11UTC+00UK House Price Growth Above Forecasts

The Halifax House Price Index reported that UK house prices rose by 1.3% year-on-year in February 2026, exceeding the consensus forecast of a 0.9% increase and accelerating from a revised 1.1% gain in January. This marked the fastest annual rate of growth in four months, with the average UK property value reaching a record £301,151.

On a monthly basis, prices increased by 0.3% in February, following a stronger 0.8% rise in January. According to Amanda Bryden, Head of Mortgages at Halifax, the housing market has sustained its early-year momentum, with average prices up by about £3,000 since the start of the year. While affordability remains under pressure and housing supply is limited, lower interest rates and rising real wages are continuing to underpin buyer demand.

Regionally, price growth was strongest in Northern Ireland, where values were up 6.3% year-on-year, followed by Scotland at 4.7%. Wales recorded a 2.4% increase, while northern English regions also outperformed, including the North East (3.5%) and North West (2.9%). In contrast, southern markets underperformed: prices in the South East fell by 2.2%, and London recorded a 1% decline. Halifax added that trends in mortgage approvals, as well as ongoing geopolitical uncertainty, could influence borrowing costs and the trajectory of future house price growth.