House prices rise £3k in a month

The Department for Communities and Local Government latest research reveals the average house price rose from £194,454 in July to £197,631. That pushed the annual rate of house price inflation up almost 2% from 6% in July to 7.7% in August. In London the annual rate of inflation was 7.9% up from 6% in July. Meanwhile annual house price inflation for the whole of the UK over the last three months stood at 6.3%, and in London, 6.8%. Milan Khatri, chief economist at the Royal Institution of Chartered Surveyors, says the figures show August was the strongest month for the property m...