4 Sep

UK house prices show a recovery in August

UK house prices show a recovery in August

House prices across the UK showed a level of recovery in August as they bounced back from the traditional early-summer slowdown worsened by high profile events.

Such highlights as the Olympics and the diamond jubilee have been blamed for a lack of activity driving prices lower throughout July.

However, Nationwide has now reported a level of bounce back in values throughout August.

It said that the average cost of a house, sitting at £164,729 in August, was a full 1.3 per cent higher than in June. However, the slowdown has had an effect year-on-year, as prices were 1.7 per cent lower than during the same month a year ago.

Robert Gardner, Nationwide's chief economist, said: "Given the difficult economic backdrop, the extent of the rebound in August is a little surprising. However, we should never read too much into one month's data, especially since monthly price changes have been impacted by a number of one-off factors this year."ADNFCR-1222-ID-801442277-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.