Housing market has ‘regained momentum’, says Halifax after 0.3% price rise in February

Halifax’s head of mortgages says the bank’s latest price index shows the housing market has “regained some momentum” after a softer end to 2025.

House prices increased by 0.3% in February, following a 0.8% rise in January, with the average property price now standing at £301,151.

The annual growth rate in February was 1.3%, the highest in four months and up from 1.1% in January.

Amanda Bryden, head of mortgages at Halifax, said the market had “built on its steady start to the year in February” and said the month’s figures showed it had “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.

“There’s no doubt that affordability remains stretched, supply is constrained, and regional disparities persist. For those without family support, the path to home ownership feels particularly challenging. 

However, she said that conditions were “gradually improving”, pointing to easing interest rates and real wage growth, while noting that “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,” she said.