Transactions are continuing to fall across England and Wales, says a new report.

Property investment company London Central Portfolio puts transactions at 779,638 across England and Wales, excluding London, in the 12 months to the end of September – a drop of 3.2% compared with the same period the previous year.

In prime central London, annual transactions slumped almost 17% to an all-time low. Transactions are down 45% on 2014, says the report.

In greater London, annual transactions have dropped 7.6%.

In all areas, prices have risen: in September in prime central London, excluding new-build, to £1.86m; in Greater London, excluding new-build, to £649,246; and in England and Wales, excluding London and new-builds, to £266.993.

Naomi Heaton, CEO of London Central Portfolio, whose report is based on Land Registry data, said: “Falling transactions is the common theme throughout all the sectors reported on, and it appears there is still very little cause for optimism.

“Growth has been stifled by the Government’s failure to give a clearer picture of what a post-Brexit landscape will entail for home owners and investors alike.”

However Paul Smith, CEO of Spicerhaart, said that Brexit has failed to deter buyers and sellers.

He said that the realities of the housing market were in marked contrast to the gloomy predictions given by the Treasury in its ‘cautious’ economic forecast for the two years following the Leave vote in May 2016.

The Treasury had predicted a 10% to 16% fall in house prices pre-Brexit. Instead, said Smith, there had been 9% growth.

The Treasury had also forecast that demand would fall due to the higher cost of lending, whereas there had been a 7.6% rise, said Smith.

He said: “For over two years we have been listening to bold claims from industry commentators and public figures about the impact that Brexit will have on the housing market. But what we are seeing on the ground is proving them otherwise.

“The number of buyers entering the market is the highest in two years, and the number of property transactions in August is the most seen since November 2016. Now, so close to the end of the Brexit process, I cannot see much changing.

“EU or no EU, the need to move home will always be there. Brits move for a whole host of reasons including good schools, new jobs and better transport links. ‘Brexit’ is not a word our branches are hearing on the ground any more.”

However, he too called for the Government to provide a “strong vision of the UK’s post-Brexit future”.