Average property prices rise by 0.5% in February

Following what was a fast start to the year, February’s price increase remained more subdued – below the longer-term average of 0.8%.  

This, according to the online real estate business, appears to be both a proactive measure – recognising higher costs for some buyers with England’s stamp duty deadline coming at the end of next month – and a reaction to the record number of sellers who came to the market in early 2025.  

Meanwhile, the average number of available homes for sale per estate agency branch continues to run at a 10-year high, reducing sellers’ pricing powers. Additionally, rising stamp duty charges are set to impact some regions and types of movers more than others. 

Colleen Babcock, property expert at Rightmove, said: “New sellers are showing some pricing restraint after a fast start to the year, being mindful of both the high level of seller competition, and in England also of the looming stamp duty deadline and extra costs for some buyers.  

“Agents report that some of the steam is coming out of new sellers’ price expectations to fit the changing market conditions, which is a sensible reaction to attract buyer interest, and it will also help to support activity levels.  

“The upcoming stamp duty deadline in England remains a key talking point, and while some movers may not be affected at all, others will be more severely impacted. We’ve previously suggested reforms such as regional variations in stamp duty charges to try and address some of the inequities in the current system.  

“With the predicted conveyancing log-jam likely to cause some buyers to miss the deadline and end up paying more tax through no fault of their own, it would seem justifiable for the government to announce a short extension before the end of March.” 

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