House prices in Britain hit a fresh record high last month, but the pace of the rise is slowing.
The latest figures from Halifax show an average increase of £1,789 in August, taking the average house price for the UK to £262,954.
But the bank said last month’s rise was “relatively modest” with the annual rate of house price inflation falling to 7.1%, its lowest in five months.
Growth was 9.5% in the year to May, as buyers rushed to beat the stamp duty holiday deadline.
