Near-term price expectations climbed into positive territory for the first time since April
Yesterday Halifax published its monthly house price index which showed the annual rate of growth slowed to 6.9 per cent in August, down from 8.4 per cent in July and June.
It said that high prices were weighing on the property market, as homes continue to rise in cost far faster than wages go up.
The most recent Nationwide index meanwhile reported annual house price growth rising from 5.1 per cent in June to 5.2 per cent July and to 5.6 per cent in August.
Richard Sexton, director of e.surv, said softer transaction levels over the summer could 'largely be attributed to the markedly high transaction rate earlier this year and the expected summer lull'.
He added: 'The immediate aftermath of the vote on 23 June saw lenders and borrowers act with caution, but subsequent policy decisions [including a cut in the base rate to 0.25 per cent last month] have been made to restore confidence to the market.'
Halifax flagged problems with property affordability in its report this week, with house prices only having been higher compared to wages at the peak of the 2000s boom