UK house prices rise 3 percent year-on-year in August

Average house prices in the United Kingdom in August were 3.0 percent higher than a year earlier, down from an upwardly revised annual increase of 3.2 percent in July, the Office for National Statistics said on Wednesday.

Growth in property prices slowed sharply in recent months after hitting a two-year high in March when homebuyers rushed to complete sales before an expiry of a tax break on many house purchases.

Private-sector rents were 5.5 percent higher than a year earlier in September, down from 5.7 percent in August and the smallest annual increase since November 2022.

Reuters