UK property asking prices hold steady after post-Budget jump, Rightmove says

[LONDON] Asking prices for British homes held steady in the four weeks to Feb 7 after a post-budget relief rally over the Christmas and New Year period, property website Rightmove said on Monday.

Prices showed no change in monthly and annual terms, Rightmove said, after reporting a record 2.8 per cent monthly rise and a 0.5 per cent annual increase for the five weeks to Jan 10.

There have been other signs of a recovery in the housing market since finance minister Rachel Reeves announced her annual budget in late November. It included tax increases but the introduction of most of them was delayed.

Over the past decade, asking prices have typically risen by 0.8 per cent in February, Rightmove said.

January’s jump meant the increase in prices since the start of the year was the strongest since 2020.

The total number of homes for sale was at an 11-year high for the time of year.

SEE ALSO

US forces board second sanctioned oil tanker in Indian Ocean

UK minimum wage is raising youth unemployment, Bank of England’s Mann says

UK’s Starmer calls for stronger ‘hard power’ and European defence ties

DECODING ASIA

Navigate Asia in
a new global order

Get the insights delivered to your inbox.

The number of newly listed properties for sale fell by 1 per cent from a year earlier, when the market was distorted by the approaching expiry of a tax break for homebuyers, but was 11 per cent higher than two years ago.

The number of agreed sales was 5 per cent below this time in 2025 but 9 per cent higher than at this time in 2024. REUTERS