In a strong indication of their level of concern, The Royal Institute of Chartered Surveyors (Rics) is reporting that the UK housing market is being ‘stifled’ by a lack of first-time buyers and economic confidence.

More estate agents reported prices falling than rising in November in a continuation of the picture witnessed during October. New buyer enquiries, newly agreed sales and average sales per surveyor all fell in November, the survey found.

The report concludes that prices are falling across the UK and activity remains slow.

However, it should be noted that the end of the year is generally a slow time of year for the housing market and analysts believe some sellers will wait until after New Year before putting properties on the market.

The survey, which is generally well regarded in the industry, confirms views put forwards by similar recent reports from lenders the Halifax and Nationwide.

Rics found that 43% of the professionals noted that prices were relatively stable over the past three months, although many said prices had fallen slightly in November. The lack of demand, especially from first-time buyers struggling to get a mortgage, was in evidence from the falling number of new-buyer enquiries. This has now fallen for six months in a row.

Individual surveyors have reported that the picture for the housing market into next year could be similar.

Despite some better economic data, fears over how future spending cuts will impact on the jobs market are clearly still weighing heavily on potential purchasers’ minds, with many deciding to wait and see until the New Year. Meanwhile, the lack of mortgage finance continues to deter first time buyers.