The UK property market has moved further into its usual spring pattern this month, with activity picking up across both sales and lettings. March often brings a noticeable rise in new listings, viewings and valuation requests, and 2026 is no exception. What is different this year though, is the balance of conditions. There is movement in the market, but not the intense urgency seen in some recent years. Instead, the picture is one of steadier pricing, improved choice and a more measured pace for buyers, sellers, landlords and tenants.
Buying: Spring Activity Builds
March is traditionally one of the busiest months for house-hunting, and there are clear signs that activity is increasing. Rightmove reports that average new seller asking prices rose by 0.8% in March to £371,042, which it describes as a typical seasonal lift at the start of the spring selling season. At the same time, the number of homes for sale remains at an eleven-year high for this time of year, giving buyers more choice than they have had for some time.
Other data points suggest the market is active, but still price-sensitive. Nationwide said UK house prices were 0.2% lower month-on-month on a seasonally adjusted basis in March, though the annual rate of growth edged up to 1.6%, from 1.2% in February. That points to a market where demand is present, but buyers are still weighing affordability carefully rather than bidding aggressively.
Mortgage activity also reflects a more considered market. The Bank of England reported that net mortgage approvals for house purchases fell to 60,000 in January 2026, below the previous six-month average of around 64,100. That does not suggest a market stalling, but it does show that affordability and borrowing costs are still influencing decisions.
Tip for Buyers:
March usually brings more stock, so it is a good month to compare properly rather than rushing. Having a mortgage agreement in principle and a solicitor ready will give you an advantage when the right property appears.
Selling: More Competition, But Motivated Demand
For sellers, March offers one of the strongest windows of the year for launching to market, simply because more buyers are active. However, the increase in supply means competition between sellers is also stronger. Rightmove’s March data shows that while asking prices have edged up seasonally, annual asking-price growth is still slightly negative at -0.2%, which underlines how important pricing remains.
Time-to-find-a-buyer figures also tell an important story. Rightmove’s regional data shows that the average number of days to secure a buyer ranges widely, from around 60 days in the North East to 80 days in London, highlighting that local conditions still matter enormously.
The broader outlook for 2026 remains one of modest growth rather than a sharp upswing. Nationwide continues to expect house price growth in the 2% to 4% range for 2026, helped by slightly easing affordability pressures, but that is consistent with a market that is functioning steadily rather than racing ahead.
Tip for Sellers:
Spring can bring more viewings, but it also brings more competing listings. A realistic asking price, good presentation and paperwork prepared early can make a big difference when buyers have plenty to compare.
Lettings & Landlords: Demand Still Strong, Rent Growth Cooling
The lettings market remains busy, though rental growth is not as intense as it was a year ago. The latest Office for National Statistics release shows that average UK monthly private rents increased by 3.5% to £1,367 in the 12 months to January 2026, down from 4.0% in the year to December 2025. Average rents reached £1,423 in England, £826 in Wales and £1,021 in Scotland.
Regional differences remain significant. In England, the North East recorded the highest annual private rent inflation at 8.0%, while London had the lowest at 1.1%. Even so, London remains the most expensive market, with an average private rent of £2,253 in January 2026.
For landlords, this points to a market where tenant demand remains solid, but rent-setting needs to be handled carefully and with awareness of local conditions. For tenants, the pressure is still there in many areas, especially where supply remains limited.
Tip for Landlords:
With rent growth cooling nationally, retaining good tenants becomes even more valuable. Keeping on top of maintenance, communication and compliance can help reduce voids and improve long-term returns.
Tip for Tenants:
Spring is often a busy moving period, so being organised with references, ID paperwork and deposit funds can make it much easier to secure a suitable property quickly.
Market Outlook: A More Balanced Spring Market
The latest official house price release from the ONS, published in February, showed that average UK house prices increased by 2.2% to £268,000 in the 12 months to December 2025. That underlines the same wider story seen elsewhere: prices are still rising, but modestly rather than sharply.
Taken together, March’s data points to a market that is active and relatively healthy, but also more balanced than the seller-led peaks of recent years. Buyers have more choice, sellers still have seasonal demand, landlords continue to benefit from strong tenant interest, and tenants are seeing rent growth ease a little compared with earlier highs.
What Next?
March 2026 looks like a classic spring market with a steadier feel. Activity is increasing, but the market is not running away in either direction. That makes preparation more important than ever. Buyers should get finances lined up, sellers should launch with care, landlords should stay focused on standards and retention, and tenants should be ready to move promptly when suitable properties come up.
Alter & Cope is here to support your next move in London. Call 0208 220 0820 or email enquiries@alterandcope.co.uk to speak with our team.
Note: The information in this article is based on the most recent data available as of February 2026 and may change. Always seek professional advice for specific circumstances.
