House prices rise in August

House prices rose by 0.6 per cent on a seasonally adjusted basis in August, the biggest rise since March, government data showed.

The Department of Communities and Local Government said house prices were 1.3 per cent lower than a year earlier, the smallest annual fall since April, and taking the average price of a home to £208,476 pounds.

The DCLG data is based on a sample of mortgage completions data from the Regulated Mortgage Survey, collected by the Council of Mortgage Lenders, and is less timely than house price data from individual mortgage lenders Halifax and Nationwide, which are based on mortgage approvals.