House prices remained virtually flat in February after January’s record increase, with the market showing signs of stabilisation rather than slowdown, according to Rightmove’s latest house price index.
The average asking price of newly listed homes fell by just £12 to £368,019, a standstill compared with the typical 0.8 percent February rise seen over the past decade. However, combined with January’s bumper increase, the first two months of 2026 represent the strongest start to a year for asking prices since 2020, with prices up 2.8 percent since December.
Affordability improving for buyers
The data presents mixed signals for landlords monitoring the sales market. Average wages have risen 4.7 percent annually, comfortably outpacing the 1.5 percent total property price growth over the past three years. Mortgage rates remain near their lowest levels since before the September 2022 mini-Budget, with the average two-year fix now at 4.28 percent compared with 4.96 percent a year ago.
For landlords considering portfolio adjustments, the number of homes for sale has reached an 11-year high, giving buyers more choice and negotiating power. This increased competition among sellers may affect achievable prices for those looking to exit the market.
Market fundamentals unchanged
Colleen Babcock, property expert at Rightmove, said: “Virtually flat prices in February really needs to be viewed alongside what happened in January. 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.”
She added: “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.”
Nathan Emerson, CEO of Propertymark, said: “February’s flat price movement follows a strong January uplift, but with only two weeks of data available so far, it is difficult to form a clear and definitive picture of how the market will perform across the full month.”
Emerson noted that with wages rising faster than house prices and mortgage rates lower than a year ago, affordability is gradually improving, particularly for first-time buyers. “Overall, 2026 is shaping up to be a more balanced and sustainable year for the housing market,” he said.
Regional picture
Market activity remains difficult to compare with 2025, when the looming stamp duty deadline was still affecting buyer behaviour. Current trends look stronger when compared with 2024 – newly listed properties are 11 percent higher than two years ago, while sales agreed are nine percent up on the same period.
Lenders continue to innovate on affordability, with the FCA’s 2025 review of loan-to-income caps enabling typical buyers to borrow more. Several lenders now offer very small or no deposit mortgages, while others allow eligible borrowers to access up to six times their income.
The full Rightmove House Price Index includes regional breakdowns and methodology.
Editor’s view
Flat prices after a record January suggest the market is finding its level rather than running away. For landlords weighing up sales, the 11-year high in stock levels means pricing realistically is essential – buyers have options and aren’t afraid to use them.
Author: Editorial Team – UK landlord & buy-to-let news, policy, and finance
Published: 13 February 2026
Sources: Rightmove, Propertymark
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