According to Rightmove, house prices peaked in July this year, with a fall of 1.6% in August. East Anglia and Wales bucked the trend, posting yet more positive growth.
The average house price in July was £217,580, compared to £214,040 in August.
Our view
Business in August can be slow for many reasons, including school holidays. The housing market will almost certainly be affected by this. The climate can also have an effect on buyers, and August was definitely a bit of a wash-out.
With interest rates rising, many buyers are tightening the purse strings, just in case they rise again.