February 2026 Property Market Update: What It Means for Buyers, Sellers, and Landlords

It’s that time of year again. The days are getting a smidge longer, the winter coats don’t feel quite as essential, and people are starting to make plans. And it seems that moving house is high on the list for many. The property market, after a quiet festive period, is showing real signs of momentum. All that January activity, as of the 6th of February 2026, has given a sneak peek into what the next few months might hold. It looks like buyers, sellers, and landlords are all back in the game with a bit more focus than before, ready to make things happen.

So, what’s the story with house sales?

Remember that feeling of waiting for a bus that never seems to come, and then three arrive at once? The start of the year felt a bit like that for house sales. There's been a steady return of committed buyers, the kind who’ve spent their Christmas break scrolling through property sites and are now ready to actually see some places. This renewed confidence isn't happening by accident. A big part of it comes down to improved affordability. Things just feel a little more manageable financially for many people, which is a huge relief. And with more stable mortgage rates, the ground feels a lot less shaky underfoot for those looking to borrow.

This stability is helping people turn those daydreams into actual next steps. In many areas, homes that are priced realistically are getting snapped up for viewings almost straight away, leading to sales being agreed pretty quickly. It’s a clear signal for sellers: if a house is well-presented, in a good spot, and has a sensible price tag, it’s going to get interest. The days of testing the market with a sky-high price seem to be on the wane. A clear pricing strategy from the get-go is what’s getting results, creating a healthier market for everyone involved. The January activity shows that serious buyers are out there, they just need the right property at the right price.

And what’s happening in the world of lettings?

For anyone renting or thinking about renting out a property, the story continues to be one of high demand. Tenant demand has stayed strong right into the new year, and it doesn't look like it's slowing down. What are tenants looking for? Well-presented homes are a must, but there's a growing call for energy-efficient homes. With energy bills being what they are, a place that’s cheaper to keep warm is a massive plus. It's something landlords are having to think about more and more.

While demand is high, the supply of available properties is still quite limited in many places. This creates a bit of a bottleneck. But for landlords, this means that if they price their property sensibly and keep it in good nick, they are seeing plenty of interest and not having long empty periods between tenants. It’s no longer just about getting a property on the market; it’s about quality, compliance, and long-term planning. Making sure everything is up to scratch legally (that’s the compliance bit) and having a plan for the property’s future are key to making a success of lettings in today’s market.

Money talks: mortgage rates and market confidence

Let's talk about the money side of things, because it’s a big driver of the property market. After the most recent base rate movement – that’s the main interest rate set by the Bank of England that influences all other borrowing costs – things have calmed down. Mortgage rates have started the year on a much more stable footing. Think of it like a choppy sea finally becoming calmer. This stability is doing wonders for confidence.

It means buyers can plan with a bit more certainty, knowing roughly what their monthly payments will be. This restored confidence is also a big help for landlords, who can now review their finances and portfolio strategies without feeling like the goalposts are constantly moving. While affordability is, of course, still a major factor for everyone, this newfound certainty is helping people make decisions and move forward, rather than putting their plans on hold. This financial stability is the foundation for the momentum seen across the entire market.

A closer look at the York market

Zooming in on our patch, the team at Hunters York has been keeping a close eye on the local market. Their local knowledge, combined with a wider national insight, gives a really clear picture of what’s going on right here. And the news is positive. The owner-occupier market in York remains resilient, which is just a fancy way of saying it’s holding up well. There’s good January activity for well-priced homes and, as we’ve seen nationally, very strong rental demand.

Here’s a quick breakdown of the local supply and demand situation:

• Sales Consistency: The number of sales being agreed is staying steady, which is a great sign of a stable market.

• Ready to Go: Homes that are 'move-in-ready' – the ones that don't need a load of work – are selling faster. Buyers seem to prefer convenience.

• Rental Prices: Typical rents in the area are hovering between £1,050 and £1,100 per calendar month.

• Rental Hotspots: There’s particularly strong demand for rental properties near the city centre and close to good transport links. No surprise there!

This local snapshot shows that while broad trends affect everyone, understanding the specifics of the local market is what really makes a difference for both buyers and sellers.

Getting ready for the spring rush

As spring approaches, it’s pretty much a given that activity will ramp up. The spring property market is famously busy. More buyers will come out of the woodwork, sellers will get serious about the plans they made over winter, and that naturally means more competition. For anyone thinking of making a move, the message is clear: get prepared now. Those who do their homework early—by getting a handle on local pricing, sorting out their mortgage options, or planning their rental strategies—will be in the best position to move forward with confidence as the market gathers pace.