This leave, referred to as Brexit, which stands for "British exit", is currently wrecking havoc in the real estate sector.

Reports show that there has been a huge fall in the prices of houses in London's most expensive areas, which include Knightsbridge, Kensington, Chelsea, Notting Hill and West Brompton.

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This fall is reportedly the biggest reduction in nearly seven years!

Head of London Residential Research, Tom Bill, explained the reason for this downward trend.

"Since the vote, a number of buyers have requerealted discounts due to the climate of political and economic uncertainty.

The decision to leave the European Union has provided a backdrop of short-term uncertainty that is affecting behaviour in the prime central London property market," he said.

This uncertainty started before the vote, before declining to July's fall, which is the biggest since October 2009.

Commercial properties, housebuilders, estate agents, and prospective tenants have been affected by the Brexit vote.