The index also found that on average estate agents had just 43 unsold properties on their books. That's the lowest level ever recorded by RICS, with data going back to 1994.

Simon Rubinsohn, RICS chief economist said that the market in London is struggling. "High-end sale properties in central London remain under pressure, while the wider residential market continues to be underpinned by a lack of stock,"

Samuel Tombs, Chief UK Economist at Pantheon Macroeconomics said: "the house price balance remained at a level consistent with quarter-on-quarter growth in house prices of around 1 per cent, and a balance of +13 surveyors expect prices to rise over the next three months.

Overseas demand has softened in response to uncertainty over future settlement rights and the potential for a further depreciation of the pound, while the market has been flooded recently with a large number of new, high-end flats.