House price growth picks up pace with 2.8% annual rise

House prices in the UK rose by 1.5% in August, bringing annual growth to 2.8% with the average property price at £293,000. The Land Registry index shows the North West had the highest annual inflation at 4.6%, while the South West had the lowest at 0.8%. Mortgage rates may impact buyer confidence, with expectations of further rate cuts and uncertainty leading up to the Budget on 30 October potentially affecting market sentiment.

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