The housing market’s recovery has “slipped into reverse” after Rishi Sunak called a general election, surveyors have warned.

Confidence in the UK’s housing market is starting to dip, the Royal Institution of Chartered Surveyors (Rics) found.

New buyer demand fell in May according to a net balance of 8pc of property professionals, marking the weakest reading since November 2023.

Amid softening demand, the latest data suggests house prices fell slightly in May, Rics said, with a balance of 17pc of professionals seeing prices fall.

Rics senior economist Tarrant Parsons said: “The recent recovery across the UK housing market appears to have slipped into reverse of late, with buyer demand losing momentum slightly on the back of the upward moves seen in mortgage rates over the past couple of months.”

Rics chief executive Justin Young added: “Despite an improving overall outlook, today’s data reveals that confidence in the housing market is beginning to dip - just as parties launch their manifestos.”

Read the latest updates below.