House price growth continues to fall but sales are on the up

The pace of house price growth continued to slide on a monthly and annual basis in August but transactions increased, Your Move said this morning.

Its figures are very different from those of haart in the story above.

Your Move’s latest House Price Index shows average prices fell 0.2% in August to £297,399.

This is the fifth consecutive monthly price fall, while the annual growth figure fell for the fourth consecutive time from 2.6% in July to 2.1% in August.

Despite the slides, the agent estimates there were 80,500 sales completed in August – an increase of 5% compared with July.

Oliver Blake, managing director of Your Move and Reeds Rains estate agents, said: “We’re seeing a balanced market this year. Regions like the east of England are closing the gap on the traditionally stronger performers like the south-east as first-time buyers drive growth in search of more affordable housing.

“The rise in transactions in August and strong regional performance highlights a monthly slowdown of prices in the capital. However, on an annual basis, London’s boroughs, particularly those in the south-east, are continuing to show steady growth.”

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