Average house prices registered a 0.2% increase in August but, over the last five months, have remained largely static according to the latest LSL/Acadametrics House Price Index.
The figures also show sales in London picked up by 22% but remain virtually static in all other regions in England & Wales whilst year on year house price growth has slowed to 7.7%, and is expected to slow further as 2010 increases fail to match those of a year ago.
LSL commercial director David Brown said:
“The pickup in house sales since the start of the year dropped off in August. The exception is London where high demand for prized property from cash-rich buyers has seen housing market activity increase. Some buyers will be wary of imminent public sector cuts and the knock-on consequences for the economy.
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