House prices across Britain remained largely unchanged in February, with the average asking price for a newly listed home standing at £368,019, according to the latest data from Rightmove.
This figure shows only a marginal monthly movement, with prices slipping by just £12 compared with January. While this indicates a pause in growth, it follows a particularly strong start to the year, when asking prices recorded their biggest January increase since 2020.
Despite February’s flat performance, overall prices are still higher than at the end of last year. Rightmove reported that asking prices have risen by 2.8% since December, making 2026 the strongest opening to a year in several years for sellers.
Colleen Babcock, a property expert at Rightmove, explained that February’s figures need to be seen in the context of renewed activity in January. After months of uncertainty surrounding the late November Budget and the usual slowdown over Christmas, market confidence returned from Boxing Day onwards.
She said that many homeowners who had delayed listing their properties during the Budget period chose to enter the market in early 2026. This wave of new listings helped to push prices higher in January and set the tone for the early part of the year.
However, Babcock also noted that the underlying market conditions have not shifted dramatically. Buyer demand remains weaker than it was this time last year, when many households rushed to move before changes to stamp duty in England came into effect.
As a result, sellers appear to be acting more cautiously in February. Rather than continuing to raise prices, many have chosen to hold on to January’s gains in a market that remains highly competitive and sensitive to affordability.
Rightmove suggested that 2026 could still prove to be a favourable year for buyers. Improved affordability and a growing supply of properties are helping to create more balanced conditions, particularly for those trying to step onto the property ladder.
The portal also highlighted that the number of homes currently available for sale is at its highest level for this point in the year for more than a decade. This increased choice is giving buyers greater negotiating power and helping to keep price growth in check.
First-time buyers have seen only a modest rise in asking prices. The average price for this group edged up to £226,050 in February, compared with £225,544 in January.
For second-steppers, average asking prices increased by 0.7% month on month to £343,603. Meanwhile, homes at the top end of the market became slightly cheaper, with prices dipping by 0.2% to an average of £657,604.
Regional trends continue to vary. Scotland recorded the strongest monthly growth, with average prices climbing by 4.1% to £194,815. The East Midlands followed with a 2.2% rise, taking average values to £286,666.
The North East was the only region to experience a monthly decline, with typical property prices falling by 2.4% to £192,566.
In London, prices rose slightly on a monthly basis, increasing by 0.2% to £681,292. However, they remain lower than a year ago, showing an annual fall of 1.1%.
Overall, the February data suggests a housing market that is stabilising after a strong January. While price growth has paused, higher stock levels and improved affordability are offering buyers more opportunities, and the year ahead is shaping up to be more balanced for both sides of the market.
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