Despite Brexit dominating the headlines, its impact on housing has so far been limited, said one housing analysis firm.

Hometrack noted that its indicators also suggest no ‘imminent deterioration’ in the outlook for prices.

But the business admitted that Brexit uncertainty has compounded the slowdown of the London market, alongside weaker market fundamentals.

A tale of 20 cities

House price inflation in the UK’s 20 leading cities is currently sitting at 3.2% annually, said Hometrack, with a wide variation across the regions, from growth of 7.7% in Leicester to a fall of 2.8% in Aberdeen.

Six of the 20 cities have experienced annual house price growth above 6%, while London prices are falling by 0.4% year on year.

Future outlook

Looking ahead, the future for house prices and property sales becomes harder to predict. Hometrack said that ‘current political uncertainty means we simply don’t know what the outlook is for the UK economy in 2019 and 2020. Housing markets are intrinsically linked to the health of local and national economies’.