This map shows how house prices have changed since the Brexit vote in each inner London postcode

 
Emma Haslett
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Green indicates an increase in prices, red indicates a fall. Click or tap on the postcode for details.

There has been much fevered debate over whether the Brexit vote has affected house prices or not.

While some figures have suggested prices are up, others have shown they're down: so far, so confusing.

So Jefferies analyst Anthony Codling has used data from the UK's largest property portals to figure out what's actually happened to house prices in each inner London postcode - and as the map below shows, things aren't looking great for sellers in the capital.

It's worth pointing out that, as we all know, correlation isn't necessarily causation. There are seasonal factors at play here - prices tend to edge lower in the summer as would-be buyers disappear off on holiday instead of house hunting.

And changes to stamp duty in April, which pushed up stamp duty on buy-to-let properties by three percentage points, have also hit demand.

But figures published by Halifax earlier this month suggested prices did fall between June and July, while yesterday, analysis by Rightmove suggested asking prices in the capital fell 2.6 per cent over the past four weeks, compared to a more general slump of 1.2 per cent across the rest of the UK.

And another clue to what's happening in the capital might be provided by sales of new builds, which have slumped by a massive 43 per cent in the last year, according to analysis by London Central Portfolio. Hardly surprising, considering the average price of a new build in the capital is just shy of £1m.

"In the two previous recessions London house prices were the first to fall and the first to rise," pointed out Codling.

"So far... 70 per cent of London postcodes have seen a reduction in asking prices and 30 per cent an increase.

"The review of our post-EU referendum high touch housing market data does not currently point to a UK housing market on the cusp of a recession. The current situation of rising listings and softening prices suggests the UK housing market is functioning, albeit at levels below long run levels. If prices fell too much in the eye of the homeowner we expect listings would be withdrawn." Phew - that's a relief.

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