House prices show new rise

House prices continued rising in August, new figures have indicated.

Data from the Department of Communities and Local Government for the month showed that the average mix-adjusted price rose by 0.5 per cent, with a 2.6 per cent rise over the quarter.

This contrasted with a 1.7 per cent dip over the previous three months and adds to the evidence that a recovery is taking place.

However, the value of homes is still down on an annualised basis, although this may encourage those looking for more affordable homes.

First-time buyers had to pay 6.6 per cent less than a year before, compared with 5.3 per cent for those moving house.

New-build homes also revealed a fall in value over the year of 9.9 per cent, compared with 5.3 per cent for pre-existing dwellings.

Other recent surveys showing a rise in prices include the Halifax survey for September, which showed a 1.6 per cent increase during the month.

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