House Prices Increase By 0.8%

House prices have increased by 0.8% in August according to the Halifax.

This was the second successive monthly rise and the fourth in the first eight months of this year.

Martin Ellis, Housing Economist, said: "Overall, house prices nationally are very similar to the level at the end of last year.


"Demand for housing has increased since the start of the year due to better affordability and low interest rates. This, together with low levels of property available for sale, has boosted house prices over the last few months."

Prices in the three months to August compared to the previous three months were 1.7% higher. This is the biggest increase on this underlying basis since July 2007.

(CD/KMcA)