Though it is much too early to come to conclusions as to the full impact of the Brexit vote on the housing market, optimism has emerged as reports are revealing that buyers stayed focused. According to the official figures from the Office for National Statistics (ONS) the average UK house price increased by 8.7% from June 2015. This was good news in the face of both the Brexit and a cooling off period expected after the tax increase for secondary homes went into effect in April.

Hopeful home buyers stayed committed to their goals and took advantage of the opportunities in place which included low interest rate mortgage deals from lenders.

The month to month comparison revealed a 1% increase in the UK home price to £214,000 for June 2016. The data from the ONS includes the time period of the first week following the Brexit vote.

Home buyers are staying focused, but data shows sellers were not so confident after the Brexit vote and asking prices begin to decline. According to Rightmove, the online property website, home prices in England and Wales fell by the greatest margin since November 2015.

While the drastic hit to the housing market that was a possibility hasn’t shown up yet, economists do expect less growth in the housing market for 2016 than had been previously expected. It will continue into 2017 with a forecasted 3% for this year and 1% for next year.

Mortgage lending as well as remortgage lending is still relaxed with cheap interest rates, some of which are the lender’s historical low are available. This should keep home shoppers interested and hopefully keep the UK housing market fluid.