A lack of choice, election uncertainty and Stamp Duty changes all held back sales and buyer interest in April, surveyors claim.

The latest RICS UK Residential Market Survey had new instructions in negative territory for a 14th month, with 15% more respondents seeing a decline.

The report said: “An acute shortage of stock remains a key factor underpinning prices for the time being.

“Average properties on estate agents’ books continue to hover close to record lows, while the headline indicator on new sales instructions remained negative for a 14th month in a row.”

Alongside stagnant buyer demand, respondents reported agreed sales were beginning to slip slightly following a number of months of flat transactions. Overall 9% more respondents saw a drop in sales over the month. This increased from 3% more reporting a dip during March and is the weakest reading since the aftermath of the EU referendum.

Surveyors expect the flat picture for sales at the national level to continue over the next three months as 3% more respondents expect to see a rise in sales over the time period. Expectations have moderated in virtually all areas of the UK when compared to the March survey. However, the 12-month outlook was more optimistic with 31% more respondents anticipating a pick-up in sales over the year ahead at the national level.

Despite the subdued backdrop, 22% more respondents saw prices rising in April, which was unchanged from March.

Simon Rubinsohn, chief economist for RICS, said: “Although the picture clearly does vary across the country, the bulk of the feedback we are receiving points to a fairly flat summer for both activity and prices.

“Lack of stock on the market remains a key challenge for the sector with recent and forthcoming tax changes having a material impact on transaction levels, particularly at higher price points.

“Uncertainty relating to the forthcoming General Election is also highlighted by some respondents as a reason for inertia.”