UK house prices climbed 0.3% in February to reach £273,176, with annual growth holding steady at 1.0%, according to Nationwide Building Society data. The monthly index rose to 547.0 from 545.4, suggesting a modest recovery following a late 2025 dip attributed to uncertainty around potential property tax changes.

Nationwide's Chief Economist Robert Gardner noted mortgage approvals remain close to pre-pandemic levels, with total housing transactions in 2025 rising 10% from 2024. First-time buyers showed particular strength, with mortgage completions up 18% year on year, driven by improved affordability and easier credit availability.

Home mover transactions involving mortgages recovered 15% annually, while buy-to-let purchases saw gradual increases but remain subdued compared to historical levels. Cash transactions accounted for 35% of all deals in 2025, down from a peak of 42% in 2023 as mortgage financing regains market share.