Rents continue to climb but the pace of growth eases
Average UK house prices rose 1.2% to to £268,000 in the year to February 2026, a slight pick-up from 1% in the year to January, figures published by the Office for National Statistics (ONS) on Wednesday have shown.
Across England, the average price was £290,000 in February, up 0.8% year on year — a £2,000 increase — and marginally stronger than the 0.7% annual rise recorded to January. Wales saw an average price of £210,000, up 2.5% (£5,000) from a year earlier, while Scotland’s average climbed 2.3% (£4,000) to £187,000.
Northern Ireland continued to show the strongest growth, with the average price in the fourth quarter of 2025 (October to December) at £196,000, up 7.5% (£12,000) compared with the same quarter a year earlier.
Within England, Yorkshire and the Humber recorded the highest annual inflation at 3.9% in the year to February, up from 2.9% in the year to January. London remained the weakest region: prices fell 3.3% over the year to February, compared with a 1.9% fall in the year to January. It was the seventh consecutive month of annual declines in the capital and the lowest annual change since January 2024, when prices fell 3.5%.
Average UK house prices increased by 1.2% (provisional estimate) to £268,000, in the 12 months to February 2026. This annual growth was up from 1.0% in the 12 months to January 2026. pic.twitter.com/06BJm7vR8c
— Office for National Statistics (ONS) (@ONS) April 22, 2026
“Property prices are continuing to suggest cautious confidence during the start of the year,” said Louise Apollonio (pictured right), sales and distribution director for retail mortgages at Shawbrook.
“In the coming months, this trend is likely to remain volatile in response to the threat of rising energy costs and broader impact from events in the Middle East. For those in the market and looking to buy in the coming months, it’ll be crucial to speak to a broker to explore all options and make the best possible decision in the journey towards home-ownership.”
Meanwhile, separate figures on the rental market pointed to moderating growth. Average UK monthly private rents rose 3.4% in the year to March 2026 to £1,377, down from 3.6% in the year to February, based on provisional estimates.
In England, average rents increased 3.4% to £1,434 over the year to March. Wales recorded an average of £830, up 4.8%, and Scotland’s average rose 2.1% to £1,022. In Northern Ireland, average rents increased 5.0% to £880 in the year to January 2026.
The North East had the highest annual rent inflation in England at 6.5% in the year to March, while London was the lowest at 1.7%.
“The most comprehensive of all the rental market surveys shows that rents are still rising, but not as quickly as previously, partly due to worries about inflation having an impact on affordability,” said north London estate agent Jeremy Leaf (pictured right).
“However, rents may have dropped further if they weren’t supported by a shortage of stock, exacerbated by landlords leaving the sector ahead of the introduction of the new Renters' Rights Act at the beginning of May.”
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