LONDON (dpa-AFX) - UK house prices increased for the third straight month to hit the highest on record in August, data from the mortgage lender Halifax showed Friday.
House prices grew 0.3 percent in August from a month ago. However, this was slightly weaker than the 0.4 percent increase in July.
Prices increased for the third straight month and logged a faster-than- expected rise of 0.2 percent.
At GBP 299,331, the average property prices reached a new record high in August. However, annual growth in house prices eased marginally to 2.2 percent from 2.5 percent in July.
'The story of the housing market in 2025 has been one of stability,' Halifax Head of Mortgages Amanda Bryden said 'Since January, prices have risen by less than £600, underlining how steady the market has been despite wider economic pressures.'
Although affordability remains a challenge, there are signs of improvement as interest rates are on a gradual downward path, Bryden added.
Moreover, strong wage growth that outpaced house price inflation for nearly three years, gave more confidence for prospective buyers.
'While the wider economic picture remains uncertain, the housing market has shown over recent years that it can take these challenges in its stride,' Bryden said. 'Supported by improving affordability and resilient demand, we expect to see a slow but steady climb in property prices through the rest of this year.'
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