(Halifax) UK house prices rose by 0.7% or 1,789 pounds in August from July, pushing the average cost to a fresh record of 262,954 pounds.
Fig: UK House Price Change
On a quarter over quarter basis, UK house prices were up 1.2%.
Compared to June 2020, when the housing market started reopening from the first lockdown, prices were 9.9% or 23,600 higher in August.
Despite August’s house price gains, it was still a modest increase, with price inflation hitting a five-month low of 7.1%, from 7.6% in July.
Wales had the strongest annual house inflation at 11.6%, while London recorded a marginal 1.3% surge.
Halifax’s managing director Russell Galley sees the record house prices connected to structural factors such as home working, which has raised buyer activity, despite the end of the stamp duty holiday.
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