Annual house price growth across the UK edged up to 1.2% in the year to February, the latest data released by the Office for National Statistics (ONS) has shown.

This was up from 1% that the ONS reported for the year to January.

According to the latest UK House Price Index from the ONS, the average UK house price stood at £268,000 in February, although this data predates the recent conflict in the Middle East and the resulting turbulence that has impacted global financial markets.

The latest data revealed that across the home nations in February, the average price of a home in England was £290,000, a figure up 0.8% (£2,000) from the same month last year. In Wales, the average house price was £210,000 in, up 2.5% (£5,000) from February 2025, while in Scotland the average house price was £187,000, a level up 2.3% (£4,000) from a year earlier.

The average house price for Northern Ireland was £196,000 in Q4 2025, which was the latest ONS data available, a figure up 7.5% (£12,000) from Q4 2024.

Commenting on the ONS data, President of OnTheMarket, Jason Tebb, said: “These figures are a little dated and since then, the Iran war has had an impact on the market with some buyers adopting a more cautious ‘wait and see’ approach. Others are focused and keen to proceed.

“Higher mortgage rates have raised affordability concerns, although a number of lenders have trimmed their rates in recent days as Swap rates have settled. Inflation rising to 3.3% in March, with the potential for more to come, has tempered market expectations of further base rate reductions for a while at least."

Director of specialist lender MT Finance, Tomer Aboody, added: “A minimal increase in average property values over the past 12 months underlines the tough market conditions we are now facing.

“Lack of encouragement of any form from the Government has fuelled further hesitation in both buyers and sellers with many pausing and taking a ‘wait and see’ approach. With further reductions in base rate on hold at least for now, and more stamp duty paid due to the lack of any concessions, there is little incentive to make a move.”

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