House prices up 2.6% in August - Mortgages - News - Moneyfacts


House prices up 2.6% in August

House prices up 2.6% in August

Category: Mortgages

Updated: 14/09/2012
First Published: 14/09/2012

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

House prices rose by 2.6% year-on-year in August, according to the latest LSL Property Services / Acadametrics House Price Index.

This meant that the average house price hit £226,243. Transactions levels also revealed a positive turnaround for the housing market, up 2.5% - the highest level for the year so far.

However, the North/South housing divide continues to widen, with prices in the Greater London area recording the highest growth rate in the country at 10.5%, while prices in the North West dropped 1.5%.

"The housing market demonstrated its resilience in August, as both house prices and sales activity rose, highlighting the underlying demand from buyers," said Richard Sexton, director of e.surv.

"However, 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.".

What Next?

Find the best mortgage rate - Compare best selling mortgages

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Remortgaging bounces back

Remortgaging has been enjoying a welcome boost in recent months, despite September’s slight dip, with many homeowners capitalising on record low mortgage rates to boost their finances.

Bank of Mum and Dad holds the (house) key

The Bank of Mum and Dad is an important source of finance for many young adults, and it seems that they still hold the key – in more ways than one.

Fee-free mortgages on the rise

Mortgage rates may be at record lows, but for some people, the extra costs associated can make switching deals a financial impossibility. It’ll come as welcome news, then, that the number of fee-free deals has more than doubled over the past year!