If the UK housing market was a plane right now it would be in a constant state of standby as many are predicting the current slowdown is a direct result of the upcoming vote and possible exit from the EU. More than anything else house price growth is a highlighted issue. Experts are predicting a fall in house prices and then a gradual escalation again within a few months.

According to the Royal Institution of Chartered Surveyors, many would be house sellers are postponing the process until a more favourable market comes back and they can obtain higher prices for their properties. Since the year 1999, no other month has posted a lower number of houses listed for sale.

Another factor leading to less activity includes the new stamp duty for buy to let property. Above all however, the reason for fewer transactions overall is the upcoming vote.

Simon Rubinsohn of RICS commented on the latest data to surface, saying: “Sadly, for the many young people looking to enter the property market, it is unlikely that we are seeing the emergence of a more affordable market.

“Instead it appears to me that what we are looking at is a short-term drop caused by the uncertainty resulting from the forthcoming EU referendum coupled by a slowdown following the rush to get into the market ahead of the tax change on the purchase of investment properties.”

Lucian Cook with Savills added: “When the gap between the number of homes coming to the market and new buyer numbers widens, we can expect a slowing of activity or price growth. This is the first time we’ve seen this across the UK as a whole, which points to pre-referendum uncertainty.”