In August UK’s house prices were growing with the slowest pace in five years, as approaching Brexit scares away buyers, Bloomberg reports.

Average price of property object was 232797 pounds. This is just 3,2% higher than a year ago and the lowest growth pace since August 2013. Prices in London fell by 0,2%. They do not show any growth for six months.

UK’s real estate market, especially in the capital, is weakening rapidly, as wages growth cannot bypass increase in prices, which makes buying a house unaffordable for many citizens. Difficulties in reaching a deal in regards to UK’s exit from European Union make the situation even worse, as investors do not see any clarity in future relations between the country and its trading partners.

It is expected that price growth will be not higher that 2,5% this year.