Property prices in the UK increased by 0.8 per cent in August, according to Halifax's latest house price index.

It is the fourth time in the first eight months of 2009 that there has been a rise in the value of bricks and mortar.

And with the Royal Institution of Chartered Surveyors suggesting "good news"for private landlords due to the slowdown in the number of rental properties on the market, there are a number of areas of positivity in the housing industry.

Halifax housing economist Martin Ellis said that property prices are at a "very similar"to the level recorded at the end of 2008.

"Demand for housing has increased since the start of the year due to better affordability and low interest rates,"he explained.

The index suggested that the average house in the UK cost £160,973 in August, which was 10.1 per cent down on the same month last year.

Written by Claire Doyle

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