On a quarterly basis, house prices in the three months to August were 0.7 per cent higher than in the previous quarter, down from a 1.5 per cent rise noted in July.
The cost of a typical three bedroom semi is now £214,000 up from £205,000 in August 2015.
Earlier this week, house builder Redrow brushed aside fears over the Brexit vote as it posted a record annual profit haul and predicted an “excellent” year ahead.
Simon Rubinsohn, chief economist at RICS, said: “There are clear signs that the housing market is settling down after the initial surprise of the outcome to the EU referendum.
“Buyer enquiries did dip again in August but only modestly, and more significantly, sales expectations are beginning to edge upwards once again.”