UK house prices unexpectedly pick up in August – Nationwide By Reuters


© Reuters. FILE PHOTO: A person jogs past a row of residential housing in south London, Britain, August 6, 2021. REUTERS/Henry Nicholls

LONDON (Reuters) – British house prices rose by 2.1% month on month in August after a subdued 0.6% increase in July, despite the phasing-out of a tax break for purchases in England and Northern Ireland, figures from mortgage lender Nationwide showed on Wednesday.

House prices in August were 11.0% higher than a year ago, a bigger increase than the 10.5% rise Nationwide recorded in July and bucking economists’ expectations in a Reuters poll for a slowdown to 8.6%.

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