SEVERAL areas in Scotland have seen house sale transactions increase since the Brexit vote, according to the latest analysis.

However, other parts of the UK have seen a sharp decrease, with sales in parts of London dropping by as much as 40% since the UK voted to leave the EU.

Using official figures, Yorkshire Building Society compared house sales numbers in the 12 months leading up to the June 2016 referendum with the 12 months leading up to May this year.

Comparing these two periods, it found that transactions in East Lothian are up by 23%. The only place in the UK to see a higher rise was Torfaen in South Wales which surged by 45%.

Other Scottish areas seeing a sales pick-up include South Lanarkshire (19%), Dumfries and Galloway (17%), North Ayrshire (16%) and Renfrewshire (15%).

Overall, Scotland saw a 4% rise in house sale transactions. Wales and Northern Ireland also experienced an overall increase.

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London has seen the most severe decline, with sales down by 28%, followed by the surrounding areas of southern England.

The borough of Brent suffered the sharpest decline at 43%, with Kensington and Chelsea (42%) and Westminster (39%) next.

Across the UK generally, Yorkshire Building Society found that house sales have decreased by 9% when comparing the two periods.

The Yorkshire said political uncertainty around Brexit could be a key factor for some when considering significant purchases such as buying a home.

But some home buyers may decide that while others are holding back to wait for more certainty, now could be a good time to step in and get a deal.

Nitesh Patel, Yorkshire Building Society’s strategic economist, said: “The housing market has become more stagnant in the UK as a whole since the EU referendum.

“But when we break down the analysis to a regional and local level, the picture becomes more complex.

“Numbers of sales in London, the South East, the east of England and the East and West Midlands are all significantly down in the past 12 months compared with the year before Brexit.”

He said the London market may have been affected particularly by the political uncertainty as the capital tends to attract high numbers of investors and overseas buyers.

He continued: “But the drop in sales isn’t solely to do with confidence – high house prices and low levels of supply in London and the South East are also constraining activity.

“The changes to how landlords are taxed and regulatory measures have also contributed to the fall in sales.

“There’s been significant house sales growth in isolated parts of the north, Wales, Scotland and Northern Ireland.”

Explaining what could be behind the increases in house sales, Patel said increases in real wages and record levels of people in full-time employment have helped to make buying a home generally more affordable.

Initiatives to support those wanting to get on to the property ladder, such as Help to Buy and abolishing stamp duty for first-time buyers have also helped to boost sales, he said.

Patel said: “It should be noted that consumer confidence is a key factor in buying big ticket items such as homes and this downturn is likely to be a temporary phenomenon which will continue while uncertainty around Brexit exists.”