Average UK house price rises to record £299,331, says Halifax

Increase of 0.3% in August marks third consecutive monthly rise, exceeding 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.

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 cost of a UK home to £299,331.