The Royal Institute of Chartered Surveyors (RICS) has reported that more of its members saw property prices rising in August compared to July, suggesting that fears of a property price crash following the EU referendum result may have been over-stated.<\/p>\n
The one exception to the positive price news is London, where 30 per cent more RICS members saw prices continuing to fall, which makes August the sixth consecutive month the capital has seen prices on the decline, and leading one leading property commentator to suggest some London property owners are \u2018panic selling\u2019.<\/span><\/p>\n Property prices across almost all UK regions grew in August,<\/a> continuing the trend in the country following the vote to leave the EU and against the fears of many property experts that a Brexit vote<\/a> would cause chaos in the housing market. Rics said: \u201cDuring August, 12% more respondents nationally reported an increase in prices, up from +5% in July.\u201d Many investors appear to have held off making purchases in the market in June ahead of the referendum, with RICS stating that new enquiries \u201cdeclined significantly\u201d during this period. But the latest results indicate a return to positivity for most of the UK, and a continued strengthening of the investor market in regional hotspots such as Manchester.<\/span><\/p>\n London\u2019s property market<\/a> continued to suffer from negative sentiment though, continuing the trend seen ahead of the referendum. A combination of a lack of confidence in the capital\u2019s property market following the vote, where commercial property has taken a serious dent after several property funds were suspended in the aftermath of the Leave vote, and a general trend for investors to seek better deals outside of the overheated London scene in the UK\u2019s increasingly buoyant regions could be behind the downward pressure on London.<\/span><\/p>\n How To Buy & Sell Property Post-Brexit [Infographic]<\/a><\/p><\/blockquote>\n