UK house prices rise in February as chancellor avoids ‘negative speculation’

The Guardian World

by Julia Kollewe

March 2, 2026

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House prices in the UK rose by 0.3% in February, reaching an average of £273,176, according to data from Nationwide, the largest building society in the country. This increase marked a steady performance compared to January’s growth and outpaced analysts’ expectations of a 0.2% gain. The annual growth rate remained stable at 1%, indicating a resilient housing market despite ongoing economic uncertainties. The rise in house prices comes as Rachel Reeves prepares to present her spring forecast, which has not triggered a slowdown in the property market. Unlike last November’s budget, where negative speculation surrounding potential property tax reforms led to a market downturn, February’s figures suggest the sector is resisting such pressures this time around. This resilience can be attributed to stronger demand and a more stable economic environment. The UK housing market appears to be navigating challenges effectively, with buyers and sellers remaining active despite concerns over rising interest rates and inflation. The steady growth in house prices reflects broader economic trends, including low unemployment and cautious optimism among consumers. Analysts believe the spring forecast may offer further clarity on

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Originally published on The Guardian World on 3/2/2026