UK house prices climbed to a fresh record in February, with the average property now valued at £301,151, according to Halifax data. This marks the strongest annual growth rate in four months, accelerating to 1.3% from January's 1.1%. Since the year began, prices have risen by around £3,000, signaling the market's resilience despite earlier softness. Halifax's Amanda Bryden noted this momentum after a weaker end to 2025, though she cautioned that affordability remains stretched and regional disparities persist.

Northern Ireland leads the UK with 6.3% annual growth, pushing average prices to £218,608, while Scotland saw 4.7% growth to £222,286. Wales recorded modest 2.4% gains to £231,637, but England's southern markets struggled, with the South East down 2.2% to £383,834 and London falling 1.0% to £538,200. Mortgage approvals eased slightly in January, declining 1.7% to 59,999, though transactions dropped 5.0% month-on-month.

Despite these gains, Bryden emphasized that conditions are gradually improving with easing interest rates and real wage growth supporting buyer confidence. The RICS survey showed early signs of sales market improvement, with buyer enquiries rising from -21% to -15%. However, geopolitical uncertainties may influence future inflation and rate paths, suggesting a more gradual reduction in borrowing costs ahead.