The Prime Minister Theresa May has warned that Britain’s exit from the European Union will not be straightforward for the economy, and is urging Britons to be prepared for some “difficult times” ahead.

More than two months on from the shock of the referendum result, we are starting to get a clearer picture of how the market is faring, and so far Brexit uncertainty alone has not been enough to derail the UK’s housing market, as reflected by the latest house price data.  

However, given the greater political and economic uncertainty in the market, it is not surprising to find that more people are now cautious about which direction house prices will take over the next 12 months, as the housing market is not immune to external influences.

Speaking before travelling to China for the G20 summit yesterday, May told the Andrew Marr Show that she would not pretend that leaving the union would be “plain sailing”, despite positive economic figures in the UK since the EU vote.

“We have had some good figures and better figures than some had predicted would be the case. I’m not going to pretend that it’s all going to be plain sailing,” she said.

But May did insist that Britain would “make a success” of leaving the EU, saying she was also “optimistic” about new opportunities for Britain outside the 28-member state.