Since the financial crash of 2008, the UK property market has seen year-on-year growth.

The vote to leave the EU which took place in June 2016, left the property market in general, unaffected – The usual annual property price trend continued during the remainder of 2016 and the whole of 2017,18 & 19.

House prices in London fell by an average of 1.8% in 2019, however, it should be noted that the properties in London most affected by Brexit were those at the higher end of the price scale. Properties in London which are in high demand have experienced smaller price decreases.

The lower prices in London have also been offset by property prices in other areas of the UK, especially in the North.

By the end of 2019, the average property price in the UK was in fact 1.4% higher than in December 2018.

As can be seen in the figure below, there has been a small decrease most years in the average UK house price.

As prices fluctuate in the short term, large media outlets will portray a current event to be the cause, yet it is common for prices to dip slightly prior to a future increase.