Average UK house price reaches record £299,331, says Halifax

Prices increased in August by 0.3%, the third monthly rise in a row, and figure was above market expectations

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UK house prices rose for a third consecutive month in August, pushing the average price of a property to a record high as momentum returns to the market.

House prices increased by 0.3% month on month in August – after a 0.4% rise in July and a 0.1% increase in June – pushing the average price of a UK home to £299,331.