Housing market transactions increase for second consecutive month, rising by 11% in July from 64,915 in June to an estimated 72,100 in July, according to the latest LSL Property Services/Acadametrics House Price Index.

Transaction activity has doubled since January, which house prices registered their first rise in five months, rising by 0.1% in July. Average prices over the last three months have remained largely stable. The annual increase has slowed to 8.1% due to the stronger year on year comparisons.

This house price index is derived from Land Registry house price data, seasonally and mix adjusted by property type. The prices are smoothed to show underlying trends. LSL Acad HPI includes cash purchase prices and currently is the only index based upon the complete, factual, house price data for England and Wales, as opposed to a sample.

David Brown, commercial director of LSL Property Services, said: “House sales showed particularly strong growth in July