Average house prices edge upwards again in August, with the cost of property increasing by 07% or £1,789 ($2,477).
- The latest Halifax House Price Index revealed back-to-back monthly price gains have now pushed the cost of a typical home to a record of £262,954, surpassing the previous high of £261,642.
- August’s rise was relatively modest, and the annual rate of house price inflation continued to slow, soaring to a five-month low of 7.1%, compared to 7.6% in July.
- Annual house price inflation is cooling down in most nations and regions. Wales remains the strongest performing area, with annual house price inflation at 11.6%.
- The South West is also still experiencing strong growth at 9.6%, likely reflecting the ongoing demand for rural living within the region.
The year-over-year increase in London was also the weakest seen in 18 months. Though at a cost of £508,503, typical properties in the capital remain far higher than the national average price.
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Source: Halifax
