The Conservative landslide was described by one respected mortgage broker, Andrew Montlake, of Coreco, as a 'massive adrenaline shot' for the housing market, but some notes of caution has also been sounded for anyone expecting house prices to suddenly bounce. 

The property market has been stagnating in recent months, with estate agents reporting declining interest from potential buyers and a dwindling number of homes being put up for sale. 

Buyers and sellers who have avoided moving home due to political uncertainty may now choose to act, with forecasts that his could pull forward the traditional spring flurry of activity in the property market. 

This should help to reverse the current situation where demand for homes from new buyers fell for the third month in a row in November, and the number of homes for sale is close to record lows.  

But house price inflation, which has tailed off this year, may not spring back. 

Liam Bailey, global head of research at Knight Frank, said: 'Supply is likely to rise as political uncertainty recedes and private and public spending stimulate the UK economy.

'This will put downwards pressure on prices, however some vendors may expect a bounce in prices, which may create a stand-off between buyers and sellers as the market re-prices.' 

The Tory win is likely to see house prices steady next year after rising between 1 and 2 per cent this year, although a Brexit dive back into turmoil could upend that.

However, Henry Pryor, a buying agent, who finds and negotiates on homes for clients, said that those buying in January may even find their home is worth 5 per cent less in a year's time.

He said 'Lots of estate agents, mortgage brokers, lenders and removal firms would love you to think that the election result means a return to the good ol’ days, rising house prices, more sales, bigger loans. I’m not so sure. 

'My advice to anyone looking to move next year is to take your time, don’t rush and try and use the uncertainty to get yourself a great deal on a home you can live in for 10 to 15 years rather than expecting to move on in five.'  

Those weighing up a house purchase in more expensive areas will hope that an early February Budget brings a stamp duty cut, despite one not featuring in the manifesto