Watford has seen one of the biggest drops in house sales since the EU referendum, a study has revealed.

The town saw a slump of 27.5 per cent in the number of houses sold since the UK voted to leave the EU in June 2016, according to a study by Estate Agents Springbok Properties.

Using Land Registry data, the research compared the number of transactions in the two years and nine months before the Brexit vote to the same time frame afterwards.

It showed that Watford had the 10th highest drop in house sales anywhere in the country and the highest outside of London.

Three Rivers has also seen a decrease of house sales by 23.7 per cent, while St Albans saw a slump of 22.4 per cent.

Cllr Ian Stotesbury, Liberal Democrat Parliamentary Candidate for Watford said it showed Brexit “will be bad for Watford”.

He continued: “Many jobs in our town are reliant on our trading relationship with Europe and with our property market slowing down as well, we are really feeling the impact of Brexit in Watford.

“Unlike other parties, the Liberal Democrats have always been clear; we are opposed to Brexit and we should remain members of the European Union.”

The data revealed that London and the South of England were mostly affected by Brexit, with Kensington and Chelsea seeing the biggest drop in house sales at 42.4 per cent.

However, the data also revealed that areas in the North of England are seeing more transactions than before the vote, with Liverpool, Wigan and Barnsley all seeing an increase in house sales.

Founder and CEO of Springbok Properties, Shepherd Ncube said, “The decline of the UK property market as a result of Brexit uncertainty has been well documented and particularly in England, this decline has been spearheaded by London and the South East.

“However, the market landscape is a vast and varied one and there are many pockets across the UK that have not only weathered the storm but have actually seen more transactions since the EU Referendum then in the same time period preceding it.”