Despite February’s near-stagnation, the robust start to the year means 2026 has recorded the strongest opening for asking prices since 2020, with a 2.8% rise since December

The average asking price for a home in Britain saw a marginal drop of £12 in February, following a substantial rise of around £10,000 in January, according to new data from property website Rightmove. This slight decline brings the average asking price across the country to £368,019, down from £368,031 the previous month.

The January increase, which saw prices jump by £9,893, marked the largest rise for that month in Rightmove’s 25 years of house price analysis. Despite February’s near-stagnation, the robust start to the year means 2026 has recorded the strongest opening for asking prices since 2020, with a 2.8% rise since December. Rightmove attributes this early year growth to a rebound in confidence after a prolonged period of uncertainty surrounding the autumn budget.

Colleen Babcock, a property expert at Rightmove, emphasised the need to view February’s figures in context. Virtually flat prices in February really needs to be viewed alongside what happened in January, she explained. After the prolonged uncertainty in the run up to the late November budget, plus the usual Christmas slowdown, we saw activity pick up again from Boxing Day.

Babcock added: Many sellers, some of whom had been holding back because of the budget, came to market in early 2026 with renewed confidence, which helped to drive that bumper January price rise. But the market fundamentals haven’t changed.

There are still lots of homes for sale, and buying activity isn’t as strong as this time last year, when many buyers were rushing to move before the stamp duty increase in England. So, in February, sellers have taken a more cautious approach by holding onto January’s gains rather than pushing prices higher, at a time when competition is high and the market is still very price-sensitive, she added.

Compared to two years ago, the market shows signs of strengthening, with the number of newly listed properties 11% higher than in 2024, and sales agreed up by 9%.

Babcock suggested that 2026 could be a favourable year for buyers. Over the last three years average wages are up by around 17%, significantly outstripping property prices which are up by just 1.5% over the same period, she noted. A more favourable mortgage rate and lending environment are both also helping to improve buyer affordability. For those who are ready to move soon, February could offer a useful window of opportunity to act before the peak spring selling season, when prices usually rise.