British house prices rose 1.8% in August, new data showed on Friday.
According to the Halifax Home Price Index, home prices rose 1.8 per cent in August compared to the same month last year.
On a monthly basis, home prices rose 0.3%, according to Halifax.
Additionally, the data shows that the average house price in August was £233,541.
“There was no real change in house prices in August, with average property prices increasing by just 0.3% month-on-month. has remained largely unchanged since March,” Halifax managing director Russell Galley said, commenting on the data.
Russell Galley said: “Ongoing economic uncertainty continues to weigh on consumer sentiment, but while there is evidence of some caution from both buyers and sellers, affordability and employment “Many important fundamental factors remain strong, including:
“While the housing market is undoubtedly influenced by events in the economy as a whole, it continues to show some resilience for the foreseeable future. Additionally, the single biggest driver of both prices and activity over the long term remains buyer demand. We should also not forget the fact that there is a shortage of available properties to meet.”
Indeed, as the Halloween Brexit extension deadline approaches, the only certainty for the public at the moment is more uncertainty.
It was only yesterday that news broke that Jo Johnson had left the Conservative Party after finding himself “torn between family loyalty and the national interest”.
Questions remain about what the future holds for Britain after Prime Minister Boris Johnson asked the Queen to prorogue Parliament more than a week ago and news of a possible general election broke.
GBP/USD fell to a three-year low at the start of the week, but reversed as fears of a no-deal Brexit abated.
