House prices rise everywhere but London

House prices in the UK continued to rise in June, with London being the only place to see a decline in prices ahead of Thursday’s referendum on the UK’s place in the European Union.

Fresh research from property website Rightmove on Monday showed the average asking price rose 0.8% to £310,471.

In the capital, however, they fell by 0.2% as London felt the double-whammy of Brexit risks and a tighter property tax regime.

The research suggests tax increases introduced by George Osborne are working in London to help first-time buyers better compete with buy-to-let landlords.

Rightmove also pointed out that, as London is the preferred British market for overseas buyers, a vote to leave the EU would hit it particularly hard.

“Markets typically dislike uncertainty, and London’s fall in prices seems to be in line with what one would expect,” said Rightmove director Miles Shipside.

“Buyer momentum has been lost, and even those with access to considerable funds are still being deterred.

“This is also due to the tax regime,” he added.

There were also fewer new sellers coming to the market, with the numbers for June 5.3% lower than the historic average for this time of year.