House prices go up by 0.2 per cent
This brings the annual change to 4.6%, giving an average annual price of £167,953.
Commenting, Martin Ellis, housing economist, said: “House prices increased by 0.2% in August. This, together with July’s rise, has reversed much of the modest decline in the three preceding months. Prices are now at a very similar level to that at the end of last year.
“Activity has also been largely static since the start of the year. These developments suggest that the market is broadly stable with house price inflation having cooled since last year when supply shortages helped to push up prices.
“The improved economy, strengthening labour market and low interest rates are all supporting housing demand. We expect that UK house prices will remain static overall in 2010.”