Conditions in the UK housing market have been described as “peachy”.

The description is from Jackson-Stops & Staff, which said: “The UK property market remains peachy three months after the Brexit vote.”

It says supply has risen 1% since the vote, but the proportion sold subject to contract has gone down. However, the dip is only 2.5%.

Altogether 320,000 properties have been sold SSTC in the three months since the vote.

Under Offer properties now represent 36.1% of all properties on the market, down from 39.4% in mid-June before the vote.

Asking prices across the UK are down by 2%, and in London by 3%.

The analysis, which is based on a daily sample of over 500,000 actual properties for sale in the UK over the last three months, does not suggest a housing market crash, says the firm.

However, Jackson-Stops & Staff does say that in London Stamp Duty is having a significant effect on properties priced upwards of £2m. Just 7% are currently under offer, compared with 28% of all London properties.

Nevertheless, it insists there has been no property market crash in London, but rather a ‘freeze’ in activity at the top end.

Nick Leeming, chairman at Jackson-Stops & Staff, said: “There are more properties on the market today than on the day of the Brexit vote, and there has only been a marginal decline in the number of properties under offer.

“House prices have also declined only moderately.

“The normal events – families growing, the desire to downsize, a new job, a change of lifestyle – the fundamental drivers for people buying and selling property, have remained unchanged.”