House prices in the UK grew at snail’s speed in August, according to a survey by Halifax.
House prices in the UK were up only by 0.1% in August, compared to 1.2% in July.
In the three months to the end of August, house prices in the UK rose by 9.7%, down from 10.2% in July.
Martin Ellis, Halifax’s chief housing economist, said there had been an improvement in housing supply – both second-hand homes coming on to the market, and increased numbers of new flats and houses.
“These trends, if sustained, should help to improve the balance between supply and demand, contributing to an easing in the pace of house price growth,” he said.