UK House Prices Hold Steady in February as Rightmove Reports Post-Budget Market Stability

UK house prices remained unchanged in the four weeks to February 7, signaling a pause in momentum after a strong post-budget surge over the Christmas and New Year period, according to the latest data from property portal Rightmove. The average asking price for British homes showed no movement on either a monthly or annual basis, following a record 2.8% monthly increase and a 0.5% annual rise reported for the five weeks ending January 10.

The recent stability in UK property prices comes after renewed confidence in the housing market, sparked by Chancellor Rachel Reeves’ annual budget announcement in late November. While the budget included several tax increases, the delayed implementation of most measures provided short-term relief and helped boost buyer sentiment. This contributed to January’s sharp rise in asking prices, marking the strongest start to a year for the housing market since 2020.

Historically, February typically brings a 0.8% increase in asking prices over the past decade, making this year’s flat performance notable. Despite steady pricing, housing market activity presents mixed signals. The total number of homes available for sale has reached an 11-year high for this time of year, giving buyers more choice and increasing competition among sellers.

New property listings dipped 1% compared to the same period last year, when activity was temporarily inflated by the looming expiration of a homebuyer tax break. However, new listings were still 11% higher than two years ago, reflecting a broader recovery trend. Meanwhile, the number of agreed sales was 5% lower than this point in 2025 but stood 9% higher than levels recorded at the same time in 2024.

Overall, the UK housing market appears to be stabilizing after a strong rebound, with steady house prices, increased supply, and improving long-term sales activity shaping the outlook for early 2026.