House price inflation picks up

LONDON (Reuters) - House price inflation in England and Wales picked up to an annual 12.8 percent in early August from 10.3 percent in early July, property website Rightmove said on Monday.
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The figures suggest Britain's property market remains resilient in the face of five interest rates rises over the past year.

Rightmove said figures not adjusted for seasonal factors showed asking prices for property rose 0.6 percent on the month, double that seen in July. That took the average asking price to 241,474 pounds.

The monthly increase, however, was smaller than rises seen at the start of the year and Rightmove said it expected house price inflation to slow in the coming months.

The survey also showed asking Property prices in London fell on the month for the first time in a year.