14 Sep

House prices show improvement in August

House prices show improvement in August

House prices in the UK showed a surprisingly robust result for August, according to new data released by LSL Property Services.

The company said that the price of a house for residents and buy-to-let consumers rose to £226,243 from the £226,090 seen in July.

This represented a 0.1 per cent rise in the price of property between the two months, after two consecutive 0.1 per cent falls in June and July.

It also meant that the cost of a house was 2.6 per cent higher in August than it was a year ago.

Richard Sexton, director of LSL Property Services, said: "Rather than signalling a radical shift in the housing market, the improvement reflects a mini-resurgence following more sluggish buyer activity earlier in the summer, affected by a combination of the Jubilee bank holiday and historically heavy rainfall."

It had been thought that overall activity in the UK would fall as more people were distracted in August thanks to the Olympics.ADNFCR-1222-ID-801449812-ADNFCR

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