Flat property prices and plenty of homes on the market means a good opportunity for first-time buyers, a new Rightmove analysis suggests.
The average asking price of newly listed homes was flat this month, slipping by £12 to £368,019.
‘February’s average price standstill means that the average asking price is the same as a year ago, which is particularly beneficial to first-time buyers who are saving up for their first deposit’, Rightmove said.
The number of newly listed properties for sale is just below this time last year, but 11 per cent higher than two years ago.
Mortgage rates are close to their lowest levels since before September 2022’s mini‑Budget, despite small increases in recent weeks.
This February’s ‘price standstill’, compared with a typical 0.8 per cent February increase over the past decade, followed a record January price jump last month, Rightmove said.
The first two months of 2026 combined were still the strongest start to a year for prices since 2020, and up by 2.8 per cent since December.
Opportunity? Flat property prices pose a good opportunity for first-time buyers , a new Rightmove analysis suggests
Price growth at the start of this year has been ‘front‑loaded’ more than usual due to an early-year boost in buyer and seller confidence as uncertainty surrounding the Autumn Budget came to an end.
Confidence among buyers and sellers in January returned to its highest level since September 2025, Rightmove said.
It added: ‘In February, January’s price gains have held, but new sellers have refrained from further increases to prices as market realities set in.’
Competition among sellers remained at an eleven‑year high, and buying activity was lower than at this point a year ago, after last year’s early rush to complete purchases before stamp duty thresholds and charges changed.
Katie Griffin, a director at Sawdye & Harris in Dartmoor, said: ‘We are definitely seeing sellers being more realistic with their pricing this February compared to the optimism we saw in January.
‘When there’s plenty of choice on the market, buyers can afford to be selective, and that’s keeping asking prices in check.
‘For buyers, the conditions are looking quite positive. Mortgage rates have come down, wages are up, and lenders seem more willing to work with people to make borrowing viable. It’s a much better position than we were in this time last year.’
Colleen Babcock, a property expert at Rightmove, said: ‘Virtually flat prices in February really needs to be viewed alongside what happened in January.
Asking prices: The average asking price of newly listed homes was flat this month, slipping by just £12 to £368,019, Rightmove said
‘After the prolonged uncertainty in the run up to the late November Budget, plus the usual Christmas slowdown, we saw activity pick up again from Boxing Day.
‘Many sellers, some of whom had been holding back because of the Budget, came to market in early 2026 with renewed confidence, which helped to drive that bumper January price rise. But the market fundamentals haven’t changed.’
She added: ‘There are still lots of homes for sale, and buying activity isn’t as strong as this time last year, when many buyers were rushing to move before the stamp duty increase in England.
‘So in February, sellers have taken a more cautious approach by holding onto January’s gains rather than pushing prices higher, at a time when competition is high and the market is still very price-sensitive.’
The average two-year fixed mortgage rate is 4.28 per cent, according to Rightmove’s daily mortgage tracker, significantly down from 4.96 per cent this time last year.
Rightmove said: ‘This year-on-year drop in rates is saving typical new buyers around £100 on monthly mortgage payments.’
Matt Smith, Rightmove’s mortgage expert, said: ‘Last year’s review of the Loan-to-Income cap and reminder to lenders about stress testing flexibility by the FCA, have had the intended positive outcome of enabling the typical buyer to borrow more.
‘On top of this, there continues to be a strong focus from lenders on helping first-time buyers, with many lenders creating new products to help eligible buyers to borrow larger sums.
‘This is a big contributor to improving affordability as both first-time buyers and home-movers are better equipped to borrow what they need and can afford to repay.’
