FX.co ★ UK Nationwide House Price Index Turns Positive in January, Signalling Tentative Market Stabilisation

The UK Nationwide House Price Index (HPI) returned to positive territory in January 2026, rising 0.3% month-over-month, according to data updated on 2 February 2026. This follows a 0.4% month-on-month decline recorded in December 2025, suggesting a modest shift in momentum for the housing market at the start of the year.

The January figure indicates that, on a monthly basis, prices have begun to firm again after the previous month’s contraction. By comparison, the December 2025 reading of -0.4% reflected a drop from November’s level, while the latest 0.3% gain shows a rebound when measured against December.

While the move is relatively small in absolute terms, the reversal from negative to positive growth on a month-over-month basis will be closely watched by market participants as a potential early sign of stabilisation in UK house prices going into 2026. Investors, lenders, and policymakers may look to upcoming releases to judge whether January’s uptick marks the start of a more durable trend.