Brexit can’t be used as an excuse for every problem in the property market:  that is the consensus emerging among some commentators as yet more mixed data emerges on the property market in the wake of the EU referendum.

They say Stamp Duty changes imposed by previous Chancellor George Osborne have had far more of an effect.

The Bank of England’s money and credit report for June showed  loan approvals for house purchase numbered 64,766 in June, down from an average of 69,998 over the previous six months.

However, approvals for remortgaging were above average at 43,102, compared to the mean figure of 41,592 over the previous six months.

Ed Mead, of London agent Douglas & Gordon, said the market in the capital has actually been slowing for over two years – long before the EU referendum.

He said: “Brexit is, for London, the least of its worries after two bad Budgets, two bad Autumn Statements, a Scottish Referendum and a General Election.

“The Brexit vote is simply another hurdle but it is the end of the uncertainty we’ve been having.

“Increases in Stamp Duty, both for more expensive main properties and all secondary homes, plus ongoing barriers to foreigners buying property, have eroded confidence sin a market vital for the wealth and health of the UK in general.”

Several lenders and brokers also agree that issues such as the stamp duty reforms and wider affordability issues were having an impact long before the Leave vote.

David Whittaker, managing director of Mortgages for Business, said: “Brexit is important – but doesn’t explain everything under the sun.  Britain’s property market has been cooling for a few months, and Stamp Duty changes are a big factor.”

Peter Williams, executive director of the Intermediary Lenders Association, said caution had been the watchword in June, adding: “Some of these remortgagers will be landlords looking to counteract the added tax burdens handed to them in recent month from the SDLT reforms, changes to the wear and tear allowance, and the upcoming squeeze on interest relief. Others will be home owners looking for a boost to their finances while wage increases remain lacklustre.

“The political upheaval may have knocked the confidence of some, but beneath the caution is a sturdy base of borrowers who want to move home or get on the ladder. However, our research shows that 2.2m first-time buyers dropped out of the market between 2007 and 2015. This highlights what should be an area of focus for the new government: supporting homeownership by ensuring the high LTV sector remains a priority.”

Andrew McPhillips, chief economist at Yorkshire Building Society, said: “Uncertainty ahead of the EU referendum may have also played a role in this slowdown, but it is likely to have had less of an influence compared to the effects of the increase in Stamp Duty for landlords.”