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Published: 26/03/2026
Each month, Halifax, Nationwide and HM Land Registry publish house price indices, tracking the movement in average house prices in the UK. Halifax and Nationwide updates are based on mortgage approvals data, while the UK HPI is a joint production by HM Land Registry, Land and Property Services Northern Ireland, ONS and Registers of Scotland.
House price growth maintains steady momentum in February
House prices increased in the year to February 2026, by 1.3% and 1.0% according to Halifax(1) and Nationwide’s(2) indices.
On a monthly basis, both reported a 0.3% increase in prices in February.
Dr David Crosthwaite, chief economist at BCIS, said: ‘House price growth looks relatively stable but the wider economic backdrop remains uncertain. Ongoing tensions in the Middle East risk feeding through into higher energy costs, which could place upward pressure on inflation and interest rates, squeezing mortgage affordability.
‘While it is important that housing demand continues to pick up, these broader economic headwinds are likely to weigh on buyer confidence and could slow the pace of recovery in the months ahead.’
According to the latest insight from the Financial Conduct Authority, which collects mortgage lending data via the Mortgage Lending and Administration Return (3), the value of new mortgage commitments (lending agreed to be advanced in the coming months) decreased by 11.9% in 4Q2025 from the previous quarter – the largest fall since 3Q2023.
Amanda Bryden, Head of Mortgages at Halifax, said the housing market built on a steady start to the year in February with annual growth showing its strongest rate in four months.
‘These latest figures suggest the market has regained some momentum after a softer end to 2025. While industry data for January show a slight easing in new mortgage approvals, overall activity has continued to prove resilient,’ she said.
‘Looking ahead, geopolitical uncertainties seem set to influence the outlook for inflation and the wider economy. Against that backdrop, markets are now anticipating a more gradual path for interest rate reductions. If realised, the speed at which borrowing costs ease may be tempered.’
Commenting further, Nationwide’s Chief Economist, Robert Gardner, said: ‘Looking across 2025 as whole, total housing market transactions were 10% higher than in 2024. Improved affordability and an easing in credit availability has helped to support first-time buyer activity, with mortgage completions up 18% year on year. Housing market activity is likely to recover in the coming quarters, especially if the improving affordability trend seen last year is maintained as expected.’
The UK HPI(4), with the latest data for January 2026, showed a 1.3% increase in house prices compared with January 2025, with a 0.3% decrease on December 2025.
As the UK HPI figures cover house sales that may have been agreed in months previously, there tends to be a lag in the data.
Source: Halifax (Methodology), Nationwide (Methodology), UK HPI (Methodology)
The latest regional data from Nationwide show Northern Ireland and the North West saw the greatest annual house price increases in 4Q2025, by 9.7% and 3.5% respectively.
East Anglia was the only region to experience a fall, of 0.8% on an annual basis.
In 4Q2025, the UK as a whole saw annual price growth of 1.7% on the same quarter in 2024.
Source: Nationwide – Quarterly Regional House Price Statistics – Q4 2025
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