The BBC have reported that house prices rose by 0.8% in August compared with July – the second monthly rise in a row say the Halifax.

Property values were 10.1% lower in the three months to August compared with the same period a year ago, the survey found.The average UK home was now valued at £160973 said the Halifax, now part of the Lloyds Banking Group.

A lack of supply and greater demand for homes has pushed up prices in recent times, various surveys suggest.

“Demand for housing has increased since the start of the year due to better affordability and low interest rates” said Halifax housing economist Martin Ellis.