House prices edge ahead by 0.2%
House prices were broadly unchanged during August as activity in the property market remained subdued, figures have shown.
The average cost of a home edged ahead by just 0.2% during the month to stand at £167,953, following a 0.7% rise in July, according to Halifax.
The recent gains have reversed most of the falls seen during the previous three months, leaving house prices at a similar level to the end of last year, but around 16% below their August 2007 peak.
The figures came as the National Association of Estate Agents (NAEA) said activity in the market had suffered its traditional seasonal dip during August.
The average number of potential buyers registering with estate agents fell sharply to 250 during August, down from 292 the previous month.
The average number of properties sold per branch also dipped slightly during the month to seven, down from eight in July.
But the group stressed that while activity had fallen compared with July, the figures compared well with August 2009, and suggested the market was broadly stable.
It said: "A drop-off in activity is always to be expected in August and there is nothing in this month's figures to suggest that anything other than this cyclical pattern is to blame for slightly lower figures.
"September will be the telling month to give an indication as to the current strength of the market."
Both the Halifax and the NAEA figures are more upbeat than ones reported by Nationwide last week, which showed that house prices had fallen by 0.9% during August, following a drop of 0.5% in July.