House prices have continued to rise however Land Registry data shows that the number of property sales have plummeted since the EU referendum
This has resulted in pockets of the UK property to experience mini house price booms due to a fall in available stock levels amidst general uncertainty following the Brexit vote.
Prices in London were up by the least annually at 2.6% and down 1% on a monthly basis to £484,362.
House prices are rising yet Land Registry offers an official snapshot of transactions in the 12 months since the Brexit vote and reveals a different story.
In June 2017 [lastest figures available] the number of property transactions completed in the UK decreased by 6.7% year-on-year to 85,528 sales, the Land Registry said.
Much of this decline was due to an 11% drop in England to 66,082 sales, with the rest of the UK experiencing increases.
Further analysis of the Land Registry data shows sales volumes have fallen across all English regions during those 12 months, with London victim to the steepest decline in the 12 months to June 2017, falling 20% to 6,768.
