🏡 UK Property Market Update: February Sees Prices Hold After Record January Rise
The latest Rightmove House Price Index shows the national average asking price at £368,019, effectively unchanged month-on-month (0.0%). Following the strongest start to a year for prices since 2020, February’s pause suggests the market is consolidating rather than accelerating.
After January’s record-breaking uplift, February has delivered something steadier- stability.
Encouringly, asking prices remain level with this time last year, and mortgage rates continue to hover near their lowest point since September 2022, supporting buyer affordability.
A Market Catching Its Breath
While January saw a sharp rebound, February’s figures suggest sellers are adjusting expectations to meet current conditions. Across England (excluding inner London):
- First-time buyer homes: +0.2%
- Second-steppers: +0.7%
- Top-of-the-ladder properties: -0.2%
Growth is modest and selective. The upper end of the market has softened slightly, while mid-market homes are seeing small, sustainable gains.
This isn’t a market surging ahead; it’s one finding its level.
North Yorkshire Focus: DL7–DL11
Across our hyper-local patch of DL7–DL11, February reflects a market that is stable rather than energetic.
Although regional price growth appears positive on paper, new listings and sales agreed remain below typical spring levels. Stock is still relatively tight, and with average selling times stretching towards three months, momentum has yet to properly build.
Buyers are active, but cautious. They are responding best to homes that are priced carefully and presented well, while anything that feels ambitious is seeing extended decision timelines.
Regionally, the picture is slightly stronger:
- Average asking price: ÂŁ253,889
- Monthly change: +2.0%
- Annual change: +0.9%
- Average time to find a buyer: 80 days
Final Thoughts
The February index shows a market balancing itself after January. There is no sharp correction, but equally, no runaway growth.
National confidence is steady. Locally, we're seeing more people start to arrange viewings on sensibly priced homes that offer good value for money and are presented well.
For sellers who understand the conditions and position correctly, opportunities remain. But this is a market that requires commitment, a well-planned approach and taking advice from your local agents, not over-egging it and ruining the initial opportunity for a successful property launch.
If you're thinking of a move in the near future, get in touch with our Sales Team for any advice- 01748 834373