It's official: we're out, after almost 52 per cent of the UK population voted in favour of Brexit.
There had been conflicting views of how a vote to leave the EU would affect house prices before the referendum took place, with some suggesting a falling pound would cause foreign buyers to flock to the UK property market, while others suggested they would shy away, pushing down house price growth.
What was clear this morning was that housebuilders took a hammering, with the four FTSE 100-listed builders dropping 20 per cent or more.
|Brexit Britain: What you need to know|
But what will become of the UK's house prices? Former RICS chairman Jeremy Leaf suggested that a pause in decision-making will dent prices.
"Both local and foreign-based customers have told us over the past few months that, until the value of sterling stabilises, decision-making will pause.
"A prolonged fall in sterling may encourage some opportunistic foreign investors and/or owner occupiers to take advantage of market softening but overall most will wait to see how far house prices fall, as well as the implications for lending and employment, before taking the plunge."
He added house price growth will depend on choices by the Bank of England.
'If inflation goes up, the Bank of England may be obliged to raise interest rates which will have an impact on the property market. If interest rates don’t go up, that will help reduce volatility in the market as a rate rise affects confidence."
Stuart Law, chief executive of Assetz Property, added that the top end of the London market may be hit hardest.
“We expect prime London prices to continue falling and many of the tens of thousands of luxury homes in the pipeline to be mothballed as demand from all over the world fails to meet that potential level of supply.
"The rest of London will definitely be hit by a perfect storm of several factors hitting house prices which is great news for house-buyers but not for investors and homeowners.
"We know that the City is going to relocate large numbers of highly paid bankers to Paris, Dublin and the rest of Europe and the loss of these highly-paid house buyers and renters can only have a negative effect. Add that to the new buy to let mortgage interest tax and we see no appeal for speculative house price growth and negative cash-flow in London for the foreseeable future."
Hold on to your hats - it may be about to get messy...