Average price of home rose 0.2% month on month in August to £275,465 as market awaits interest rate vote

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UK house prices increased for the first time in four months in August, according to a leading index, as buyers and sellers remained in a “holding pattern” before an expected increase in interest rates later this year.

The average price of a British home rose 0.2% month on month in August to £275,465, the first increase since April, according to Nationwide. Analysts had forecast a 0.1% rise.