Halifax’s own lending figures show that house prices increased at the fastest rate since November 2024, rising 70bps in January 2026 compared to December 2025.

The average house price rose 1% in the year to January, to £300,077.

Halifax head of mortgages Amanda Bryden said: “The housing market entered 2026 on a steady footing. While £300,000 is undoubtedly a milestone figure, and activity levels show a resilient market, affordability remains a challenge for many would-be buyers. All in all, we still think house prices are likely to edge up between 1% and 3% this year.”

The typical home in Scotland cost £221,711 in January, up 5.4%, while in Wales prices rose 50bps to £228,415.

In England, house prices rose fastest in the north-west, at 2.1%, and an average home now costs £244,329.

Estate agent and former RICS residential chairman Jeremy Leaf said: “There is no question now that the housing market is on the move. Enquiries and sales agreed have increased markedly and the market is demonstrating resilience.

“On the other hand, the rise in listings this year, reluctance of the Bank of England to cut interest rates more rapidly and ongoing concerns about the economy mean that house prices are unlikely to increase significantly, which will be welcome news for first-time buyers in particular.”

Quilter mortgage expert Karen Noye said: “Crossing the £300,000 threshold will be welcome news for existing homeowners, but it’s yet another nail in the coffin for first‑time buyers already battling stretched affordability.”