Almost half the homes for sale in Huddersfield have been reduced in price since Brexit.
Huddersfield has experienced the UK’s largest share of property price reductions since April with prices slashed on 45% of homes, according to property website Zoopla.
Vendors cutting their sale prices did so by an average of £14,030, Zoopla said.
The price of housing in Yorkshire slowed slightly last month following a vote to leave the EU in June’s referendum, according to research by the Royal Institution of Chartered Surveyors (RICS).
Just 9% of Yorkshire agents saw a rise – rather than a fall in house prices – in July.
Nationally just 5% more agents experienced a rise rather than fall in prices – a three-year record low.
Huddersfield property expert Chris Jowett, of Jowett Chartered Surveyors, told RICS: “The market for sales stalled slightly because of Brexit. There is uncertainty in the air and this could remain over the next two years.”
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Mr Jowett said the Government needed to press on with taking Britain out of the EU if it wanted to restore confidence in the market.
He said: “You can talk yourself into a recession – we need strong leadership.
“Instead of waiting for two years they should expedite it. It’s the unknown that is slowing things down.
“Huddersfield has been recovering since 2013.”
But Mr Jowett added: “Confidence is fragile and it still is because of what happened in 2007 and 2008.
“But we need to keep level heads.”
Mr Jowett said the market was likely to improve because it is a good time for buyers.
He said: “People are holding back a little bit but it’s still going to get ahead because interest rates are low and mortgage rates are good.
“We need some honesty, statesmanship and proper leadership rather than scaremongering.”
Simon Rubinsohn, RICS Chief Economist, said: “The housing market is currently balancing a raft of somewhat mixed economic news alongside the latest policy measures announced by the Bank of England, which have already begun to lower the cost of mortgage finance.
“Against this backdrop, it is not altogether surprising that near term activity measures remain relatively flat.”
