What will happen next?

There is a view that shortage of land and property means UK house prices are set on an unstoppable course going upwards.

This may be right, but don’t forget that, across the channel, there is a major demographic crisis in the making. Populations across much of Europe are set to fall, as they have been doing in Japan for some time. This will mean empty property, and an opportunity for Brits – especially the self-employed - who may want to live abroad, but carry-on working for UK clients. Likewise, it is an opportunity in the making for the retired.

But how the Brexit vote will affect this remains to be seen, but if anything, assuming Brexit makes it harder for Brits to live in mainland Europe, the long run effect of the Brexit vote may be higher UK house prices.