Rightmove has announced this week that asking prices for properties in the UK have risen to be 3.4% higher in December 2016, compared to December 2015. Despite the US election and Brexit, demand for property remained strong and continued to raise prices.

Miles Shipside, Rightmove director said: "There was a bout of jitters with the unexpected referendum result, albeit now seemingly short-lived, but more may arrive after Article 50 is invoked."

Rightmove also predicts that house prices in 2017 will rise by 2 per cent. The online property giant predicts that high demand will continue to inflate prices, while inner London may experience a slight slump in prices with a fall of around 5 per cent. Some London boroughs have endured double digit price falls – for example a property being brought to market in Camden today might be valued at around 17.7 per cent less than a similar property, in the same area, 12 months earlier.

Rightmove has stated that it believes that London will be worst affected by price deflation in 2017 as the housing bubble “continues to deflate”. However, demand remains strong in outer London, and generally across the rest of the UK.

Miles Shipside, Rightmove director said: "for the time being, any nervousness [about Brexit] is being over-ridden by high demand for the short supply of suitable homes for sale in the lower and middle market in many parts of the country.”