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The annual rate of house price inflation picked up for the third consecutive month in August according to Nationwide.
The building society’s monthy housing report found that house prices are now 6.6% higher than at this time last year - the fastest annual rate of growth since
April 2005.
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Government statistics claim that existing stocks of available “brownfield” land could accommodate up to one million new homes.
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House prices rose by 0.4pc during August according to Hometrack.co.uk.
This brings house price growth over the first eight months of 2006 to 3.9pc.
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New research from Halifax Estate Agents shows that seaside towns on the West coast have seen stronger house price growth over the past five years with fourteen of the top twenty located on the West coast against 6 on the East coast.
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In June, the UK property industry received its fourth Housing Minister since the start of 2008 - the ninth person to hold the position in twelve years of Labour Government.


