House prices grow by £30 a day

In its latest house price index, Nationwide says the annual rate of house price inflation increased for the third month in a row, causing house prices to be 6.6% higher than August last year, which is the fastest annual rate of growth since April 2005. In addition the index says the underlying market is remaining fairly firm, with the average house price now costing £167,721, which is £10,412 higher than August 2005 and equivalent to a rise of almost £30 a day. Following the recent rise in interest rates, and the expectation of another rise before the end of the year, Nationwide points ...