Estate agents Reeds Rains and Your Move, released their monthly house price index today, and recorded an increase in both prices and transactions for August. Recording a return from the drop following the introduction of the 3 per cent rise in stamp duty in April 2016

According to the report, the average house price in the north west had risen to £178,423, up from £178,089 in July.

Transactions across the UK were also up, rising by 2.6 pc on the previous month, with 78,000 sales going through.

And although at a slower rate, house prices have continued to grow , with the average house price in England & Wales standing at £292,921, according to the report.

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A report supported by other leading authorities in the property market.

Royal Institution of Chartered Surveyors reported during August, with respondents nationally reported an increase in prices, up from +5% in July.

“There are clear signs that the housing market is settling down after the initial surprise of the outcome to the EU referendum, …. It is likely the swift response from the Bank of England, both in terms of the lowering of the capital buffer and the cut in interest rates, has played a role in helping to support confidence.” Simon Rubisohn, chief economist at RICS

Nationwide house price index recently highlighted House prices rose by by 0.6 per cent to £206,145 in August, This represents a slight increase in the annual rate by 5.6 pc up from 5.2 pc in July.

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Source Manchester Evening News