LONDON (Reuters) – British house prices increased in August at the fastest annual pace in four months, mortgage lender Halifax said on Friday.

House prices rose 1.8% year-on-year after a 1.5% rise in July, Halifax said, citing figures based on new methodology introduced as of this month.

Halifax’s new measure of annual house price growth no longer uses an average for the previous three months.

On the month, house prices rose 0.3%, after a 0.4% rise in July.

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