British house prices stable in August
Xinhua
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LONDON, Sept. 6 (Xinhua) -- The average house prices across Britain rose to 233,541 pounds (about 287,428 U.S. dollars) in August, 0.3 percent higher than the previous month, according to mortgage lender Halifax on Friday.

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(File photo: AP)

Halifax's house price index showed that house prices in June to August were 0.1 percent more over the preceding three months. And the average house prices in August were 1.8 percent higher than in the same period last year.

Russell Galley, managing director at Halifax, said, "There was no real shift in house prices in August as the average property value grew by just 0.3 percent month on month. This further extends the predominantly flat trend we've seen over the last six months, with the average house price having barely changed since March."

"While ongoing economic uncertainty continues to weigh on consumer sentiment -- with evidence of both buyers and sellers exercising some caution -- a number of important underlying factors such as affordability and employment remain strong," Galley said.

"Although the housing market will undoubtedly be influenced by events in the wider economy, it continues to show a degree of resilience for the time being," Galley added. "We should also not lose sight of the fact that the single biggest driver of both prices and activity over the longer-term remains the dearth of available properties to meet demand from buyers."