UK house prices edged up last month, but the trend remains “predominantly flat”, according to the latest Halifax house price survey.
Prices rose 0.3% last month with the average property now costing £233,541.
House prices in August were 1.8% higher than in the same month a year earlier, a slight pick up from July’s rate of 1.5%.
Russell Galley, managing director at Halifax, said average house prices have barely changed since March.
“While ongoing economic uncertainty continues to weigh on consumer sentiment – with evidence of both buyers and sellers exercising some caution – a number of important underlying factors such as affordability and employment remain strong,” he said.
“Although the housing market will undoubtedly be influenced by events in the wider economy, it continues to show a degree of resilience for the time being.”