With prices remaining stable in February, following January’s record asking price increase, read more about the latest property market trends nationally and in our regions of Ceredigion, Pembrokeshire and Carmarthenshire with our new house price report.
In Brief
Nationally the market has seen –
- The average price of newly listed homes for sale was virtually flat in February, down by just £12 (-0.0%) to £368,019, according to the February 2026 UK house price monthly index.¹
- Despite the standstill in prices last month, January’s record asking price increase for the time of year means that it is still the strongest start to a year for asking prices since 2020, with prices up by 2.8% since December.¹
- House price trends suggest that 2026 is shaping up to be a good year to buy, thanks to better affordability and plenty of homes on the market¹
- Average earnings are up by 4.7% year-on-year, outpacing the last three years of cumulative property price growth.¹
- The number of homes for sale is at an 11-year high for this time of year, giving buyers more choice and negotiating power.¹
- Lenders are continuing to offer ways for eligible buyers to borrow more.¹
- Strong sale numbers are supported by average mortgage rates dropping below 4%.²
- 40% of homes for sale are now cheaper to buy with a mortgage than to rent.²
- Sales activity is healthy, but house price inflation remains subdued at 1.3%.²
In terms of the Welsh property market –
- The average house price in Wales is now £263,238, up 2.0% over the last month, and up 3.1% year on year¹.
- The average number of days for a Welsh property to find a buyer has risen to 87¹.
¹Source – Rightmove
²Source – Zoopla
National Overview
Here is our monthly overview of the trends that Rightmove and Zoopla – two of the biggest names in the property market – have been seeing over the last month.
Rightmove’s Insights –
Rightmove says that while prices were virtually flat in February, this needs to be looked at in tandem with January pricing. Following the uncertainty in the build up to the November Budget, and with the normal Christmas slowdown, Rightmove says that from Boxing Day it saw activity pick up, with many sellers coming to market in 2026 with renewed confidence. This, it says, helped drive the strong January price rise.
It highlights that there are still a lot of homes for sale and that buying activity isn’t currently as strong as the same time last year. Last year many buyers rushed to move before the changes in stamp duty in England. As a result it says that sellers have taken a more cautious approach in February, holding onto January’s gains instead of pushing prices higher when competition is high and the market is very price sensitive.
Rightmove says that 2026 is shaping up to be a good year to buy. With property prices up just 1.5% over the last three years, wages have grown by around 17% over the same period. Together with more favourable mortgage rates and an improved lending environment, buyer affordability has improved. As a result it says, for those who are ready to move, it could be a good time to act before the arrival of the peak spring selling period when prices often rise.
Zoopla’s Insights –
According to Zoopla, 2026 has started strongly, driven by the lowest mortgage rates in four years and better access to mortgages – particularly for first-time buyers.
It is reporting that while the number of agreed sales increased sharply, it remains 3% below the very strong start to 2025. According to its figures, sales are currently at the fourth strongest February level in the past decade, despite there being 8% fewer buyers in the market than a year ago.
One clear February 2026 trend is a surge in the number of sellers coming to the market. The month was on track to see the highest monthly number of new listings in a decade, reflecting improved seller confidence. It says there are 6% more homes for sale than a year ago – with this figure expected to rise over the coming months, increasing buyer choice and keeping house price growth in check.
Another key development is affordability. Average mortgage rates for new loans fell to their lowest level in four years in January, with rates on both two-year and five-year fixed deals now below 4% for the first time since 2022.
In addition, mortgage lenders are now typically assessing the ability to pay a 6.5% mortgage ‘stress rate’ – last year this sat at 8.5%. Lower stress rates mean 40% of homes for sale on Zoopla would be cheaper to buy with a mortgage than to rent locally. It says this is up from 25% of homes tested against the higher stress rates a year ago. As a result, these changes have provided the strongest improvement in first-time buyer affordability since 2022.
Regional Insight from Cardigan Bay Properties
We specialise in the property market in West Wales and monitor developments here throughout the year to give you the best, most accurate advice. We cover the key regions of Ceredigion, Carmarthenshire and Pembrokeshire, and this month Tania Dutnell, one of our founders, outlines the key trends we’ve seen through February 2026. If you’d like to find out more please get in touch.
It’s been another very busy month for us at Cardigan Bay Properties, continuing the strong start to the year that we’ve been seeing across our regions. The number of new property instructions we received increased by over 100% compared to the same period in 2025, underlining the positivity being felt in the market at present.
While the number of valuations we carried out fell slightly in February, viewings increased by 36%, and the number of offers increased by 20%, so overall it’s been an incredibly busy month. As we’re now entering the busy spring market the increase in offers is probably partly due to buyers trying to secure a deal before more interest comes over the next few months, when we’re expecting buyer demand to pick up further.
Your Regional Insights
Please note that each month these figures are two to three months behind due to the Land Registry taking longer to register new sales, so this report shows figures from July 2019 (pre-Covid pandemic) to December 2025.
CEREDIGION
In December 2025 the average property price in Ceredigion rose to £233,722 (up from £231,827 in November), with all property types experiencing a rise.
However, in terms of the yearly percentage change, property prices in the region actually fell 4.1% over the year with the biggest drops being seen for flats (which fell 6.6%) and detached homes (which fell by 5.1%).
The monthly percentage change is up slightly – an increase of 0.8% overall. Semi-detached properties, terraced homes and flats saw a slightly higher increase (0.9%) than detached properties, which increased by just 0.7% over the month.
View the full Ceredigion report.
PEMBROKESHIRE
In Pembrokeshire the average property price increased to £213,226 – up from £209,086 in November, with all property types experiencing this increase.
The annual percentage change was actually down 3.5% overall, with the biggest drops again seen for flats and detached properties – down 6.9% and 4.2% respectively. However, the monthly percentage change increased by 2%. This follows a 2.2% drop in November. It was semi-detached properties and terraced homes that saw a slightly higher increase – both up 2.1% – while flats increased by 1.9% over the month and detached properties by 1.8%.
View the full Pembrokeshire report.
CARMARTHENSHIRE
Carmarthenshire also saw a small increase in the average property price – up to £196,607 in December 2025, compared to £195,489 in November. All property types reported a small rise.
The yearly percentage change for the region increased by 2.5% overall, however different types of properties saw different changes. Semi-detached properties saw a 3.7% increase, followed by terraced homes which increased by 2.9%, and detached homes that increased by 1.3%. However flats actually saw a fall over the year – down 1.8%.
The monthly percentage change also saw a very small increase of 0.6% for the region. Again it was the semi-detached properties and terraced homes that did slightly better – both up 0.7%, while detached properties increased by 0.4% and flats by 0.3%.
View the full Carmarthenshire report.
CURRENT UK HOUSE PRICE INDEX
* As of December 2025, the average house price in the UK is £270,259, and the index stands at 103.6.Property prices have fallen by 0.7% compared to the previous month, and risen by 2.4% compared to the previous year.
*Details provided by the Land Registry. For more information on the House Price Index please CLICK HERE
Please note that the stats provided by the UK House Price Index are live and constantly evolving.