Fri, 06 Feb 2026

Fri, 06 Feb 2026 Average house price tops £300,000 for first time, says Halifax

Halifax describes the figure as a "milestone", but potentially daunting for first-time buyers.
Average UK house prices have exceeded £300,000 for the first time, according to Halifax. The mortgage lender reported that average property prices rose to £300,077 in January, up 0.7% from December and 1% from last year. While this marks a milestone, it may be daunting for first-time buyers who are already struggling with affordability. However, wage growth has outpaced house price inflation since 2022, which could improve affordability. Lenders have also been competing for first-time buyers by releasing products that require smaller deposits. The Bank of England hinted at potential interest rate cuts this year, which could lead to lower mortgage rates. Mortgage expert Karen Noye from Quilter noted that while average house prices crossing the £300,000 threshold may be good news for current homeowners, it's a challenge for first-time buyers. House price surveys often vary in their estimates, but Halifax's data suggests average prices are higher than those reported by rival lender Nationwide and the Office for National Statistics. Despite this, Amanda Bryden from Halifax said the housing market has started the year on a "steady footing" and that wages have been rising faster than property prices since late 2022. The long-term health of the market remains a concern, but experts predict house prices will likely edge up between 1% and 3% this year. Amy Reynolds from estate agency Antony Roberts said prices are broadly stable with modest growth where supply is tight.
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