House Prices Hold Firm as Market Maintains Pre-Pandemic Strength

According to Halifax, the average UK house price remained largely unchanged in February, dipping by a modest 0.1%. Annual growth held steady at 2.9%, with the average price easing back by just £213 to £298,602.

These figures reflect the finely balanced conditions that continue to shape the UK housing market. While there has been some speculation around a final wave of mortgage activity ahead of the forthcoming changes to stamp duty, it is now apparent that some of this demand was front-loaded, with fewer new applications expected as the April deadline approaches and completion timeframes tighten.

Although the pace of price growth has eased, overall market activity remains robust and is now closely aligned with levels seen prior to the pandemic. Buyers, undeterred by higher borrowing costs, continue to demonstrate notable resilience, underscoring the underlying strength of demand.

Affordability remains a key concern, yet the persistent shortage of housing stock, set against sustained buyer interest, suggests that property values are likely to edge upward throughout the year. However, this growth is expected to be more measured than the sharp increases witnessed in previous cycles.

At Rawlinson Gold Pinner, we believe these stable conditions offer both reassurance and opportunity. With clarity returning to the market and a growing sense of equilibrium, buyers and sellers alike can approach the months ahead with confidence and well-informed intent.