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- UK house prices picked up in August, with the annual rate of growth rising from 3.3% in July to 3.7%
UK house prices picked up in August, with the annual rate of growth rising from 3.3% in July to 3.7%
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House prices in the three months to August increased by 3.7% against the same period a year earlier with the average house showing little change from last month at £229,958
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On a monthly basis, prices remained steady, seeing a small rise of 0.1% in August, while in the latest quarter (June-August) prices were 1.9% higher than in the preceding three months (March-May 2018)
Russell Galley, Managing Director, Halifax, said: "House prices picked up in August, with the annual rate of growth rising from 3.3% in July to 3.7%. With the average house price now £229,958 prices in the three months to August were also 1.9% higher than in the previous quarter. "While the pace of employment growth has recently slowed, a low unemployment rate and a gradual pickup in wage growth are helping to support household finances. This has been accompanied by interest rates still remaining at a historically low rate and a stable, yet constrained, supply of new homes onto the market further supporting house prices".
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