Has the Property Market Seen an Upturn Since the Start of 2026 in NW6, London?

The London property market has been under intense scrutiny heading into 2026. After years of sluggish growth, political uncertainty and mortgage volatility, early 2026 data suggests subtle shifts — though the picture in NW6 (West Hampstead, Kilburn and surrounding areas) is complex and differs in some respects from wider UK trends.

📈 National and London-Wide Market Trends (Early 2026)

Across the UK, several indicators point to a modest rebound in the housing market early in 2026:

✅ House Price Growth Returning

• Nationwide reported that UK house prices rose by about 1% in the year to January 2026, marking the strongest annual increase in several months. This followed a slight dip in December 2025 and signals renewed price momentum. (Reuters)
• Property website Zoopla observed buyer demand rising since the November

2025 budget, with activity reaching levels comparable to early 2024. (Reuters)

📊 Forecasts Suggest Continued Growth

• Analysts forecast house price rises of 2–4% across 2026 as mortgage rates ease and confidence slowly returns. (The Guardian)
• Rightmove expects a national price increase of around 2% in 2026 after a flat end to 2025. (Rightmove)

🏙️ London Lags Behind National Growth

Despite national signals of recovery, London’s wider property market has been slower to rebound:

• Data from specialist analysis indicates that London underperformed the wider UK housing market over the past decade and may only begin stabilising in 2026. (MoneyWeek)
• Other sources indicate London house prices fell slightly over the last year, contrasting with modest national gains. (Lansha Group)

The broader takeaway? Early 2026 shows signs of renewed property market activity across the UK, but London’s recovery remains more tentative and uneven.

📍 NW6 Property Market: Local Reality (Early 2026)

Zooming into NW6, the picture becomes more nuanced. Several postcode-level data points help illuminate local dynamics:

🏘️ Mixed Price Trends

• In NW6 overall, most price datasets don’t yet show a clear upturn specific to early 2026 — partly because detailed quarterly figures are limited. But general averages suggest:
  • The average house price in NW6 is around £552,400, with modest annual growth over the past 12 months (circa +1.1%). This highlights long-term growth over five years but not a dramatic recent surge. (Property Solvers)

📌 Spot Prices by Postcode

Different NW6 areas show different trends:

• NW6 1EU (West Hampstead area) had an average house value of roughly £714,214 in January 2026, but prices were slightly down year-on-year (around -2.6%) as of end-2025. (Bricks and Logic)
• NW6 1NY indicated an average of £460,603 with a small downward trend over recent years. (Bricks and Logic)
• NW6 5NU also showed a slight year-on-year decrease. (Bricks and Logic)
• NW6 5DE similarly saw modest downward movement. (Bricks and Logic)

In short, property prices in many NW6 micro-areas were soft at the tail end of 2025 and haven’t shown a clear, strong upturn yet in the opening weeks of 2026.

📉 Transaction and Volume Indicators

While price figures hover rather than surge:

• Transaction volumes have fallen compared with the previous year, which can suppress price movement and slow the pace of market recovery. (Property Solvers)

🧠 Interpreting the Mixed Signals

So how should these trends be interpreted if you’re trying to decide whether the market is “turning up” in NW6?

1. National Improvement Doesn’t Uniformly Translate to NW6

Even though early 2026 metrics show rising UK house prices and renewed buyer demand, London — particularly inner and mid-market areas like NW6 — lags behind this recovery. Local prices haven’t jumped; they’ve mostly stabilized or remained flat.

2. Flats vs Houses — Structural Differences

Across London, and reflected locally:

• Flats — which make up a significant share of NW6 stock — continue to struggle more than houses. This aligns with broader London trends where flat prices have lagged due to investor sentiment and regulatory changes. (Financial Times)

3. Buyer Confidence Seems to Be Returning

Early 2026 increases in buyer interest and optimistic forecasts post-budget could slowly translate into improved activity in NW6. But this phenomenon often shows up in transaction levels before prices rise substantially.

4. Mortgage Market and Affordability Matter

Nationwide and other voices note that easier mortgage conditions and better affordability are key drivers of early 2026 momentum. If these continue, NW6 may start to see more upward pressure on prices later in the year. (Reuters)

📌 Conclusion: A Tentative Upturn at Best

Has the NW6 property market seen a clear upturn since early 2026?
Not quite yet. While national and London-wide indicators hint at a soft recovery, NW6 prices are mostly flat to slightly down at the moment, and transaction activity suggests cautious buyer behaviour. It’s fair to characterise the current phase as stabilisation rather than a strong upturn.

However, with improving demand signals and forecasts of mild growth across 2026, there could be upside later in the year, especially if mortgage rates continue to ease and buyer confidence strengthens more broadly.