18% of properties for sale in London have had their asking price reduced by 10% or more

The annual rate of UK house price growth has climbed to +1.3%, according to official data.

"Astonishing" demand broke more property market records last month, reports Propertymark, but the estate agency organisation does anticipate "a rebalancing of the market over the coming months."

'There’s effectively three years’ worth of people who haven’t put their house on the market, creating a "Brexit bottleneck" which will lead to a sharp correction when they do'