“ UK h ouse prices edged up by 0.8% in August , marking the sixteenth successive monthly price rise. As a result, the annual pace of house price growth is up to 11% from 10.6% i n July. “ While this is still below the 11.8% recorded in June , house price growth continues to outpace earnings by a wide margin, with average wage growth running at less than 1% in recent months. “ Nevertheless, at a national level housing affordabili ty does not appear stretched by historic standards, in part due to the low level of mortgage rates. T he cost of servicing a typical mortgage remains close to the long run average as a share ... (full story)