As we can see from the table above, house prices have been steadily increasing for the past twenty years, and are speculated to increase again going into next year, if at a slightly lower rate.
The 90s boom to the front end of the 2008 recession brought the most significant growth, which curtailed when the financial crisis hit. This is best shown in the northern regions where prices dropped in the eight years from 2006-2014.
Of course, the recent past is the best measure of what will happen in the future. Given the consistent house price growth in the past three years, it becomes difficult to outright predict another price crash based on the EU referendum result alone - after all, we cannot forget that no concrete outcome has actually arisen from the vote.
The question is this: Given the impact of the 2008 financial crash, is the result of the Brexit vote significant enough to halt the current upward momentum of prices in the housing market?
The answer, right now, is no. The factors that have driven prices up - low supply, increasing population and lack of social housing - still hold the same influence over current housing as they did before the referendum, it is just that the Brexit vote mitigated this growth.
The fear of a house price crash is a legitimate one, but not necessarily grounded in reality. In much the same way that a general election will slow down the markets, the referendum result has had the same effect on the housing market - indecision brought about by a new set of circumstances.
This isn't any guarantee of a sustained period of housing market deflation. The latest Nationwide house price index has revealed house price growth of 0.6pc in August, taking annual inflation to 5.6pc, an average of £206,145 across the UK - so there is empirical evidence against the claim that prices would fall after the referendum result.