- UK house prices increased by 0.6% in August and were 3.5% higher than August 2012
- The typical UK home is now worth £170,514
* Seasonally adjusted figure (Note that monthly % changes are revised when seasonal adjustment factors are re-estimated)
Commenting on the figures Robert Gardner, Nationwide's Chief Economist said:
"UK house prices continued to rise at a fairly brisk pace in August, increasing by 0.6% over the month. The annual rate of house price growth slowed a little, to 3.5% from 3.9%, but this was to be expected, as July’s figure was flattered by a low base for comparison. The three month on three month measure of house prices, which is a better measure of the underlying trend, rose by 1.4%, its strongest pace since mid-2010.
A number of factors appear to be contributing to the recent upturn in house price growth. Consumer confidence has increased significantly in recent months, thanks to further modest gains in employment and signs that the UK economy is finally gathering momentum."
For further information and a regional breakdown please download the full report by clicking the link below: