In reply to olddirtydoggy:
I live here. When conditions are good, the waterfall ice climbing is world class, but the maritime climate means that there can be big thaws at any point during the winter. In the 8 years I’ve been here, there was always a period with good conditions, but equally periods of mild, wet weather. Less reliable than Norway, for sure. There is a lot of good climbing accessible from Reykjavik, but it pays to be flexible and follow conditions where possible.
Jan/Feb is most reliable, but March can also be good. Second half of February the days start to get a bit longer.
For inspiration, within striking distance of Reykjavík you have 5* routes such as Glymur, Ýringur, Óríon, Þráin, Paradísarheimt, plus lots of cragging in Hvalfjörður. Picture attached shows there are still big unclimbed routes up for grabs, understandably less in proximity of Reykjavik.
Rory