House prices rise by 0.3 per cent in August

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The Independent Online

House prices in England and Wales nudged ahead last month, according to figures published yesterday by the Land Registry.

But the increase of just 0.3 per cent was just half the size of the gains seen in July. The average home in England and Wales now costs £167,423 – the same price as in August last year. The Land Registry said it was the fifth consecutive month that house prices had risen, although the annual rate of growth fell to 6.7 per cent, down from 6.8 per cent in July.

The increase also contrasts with data issued by other organisations. Both Nationwide and the Council for Mortgage Lenders said prices were down in August, versus July. HMRC recorded a 6 per cent fall in the number of home sales.