The average asking price was pulled up by wealthy home owners registering mulit-million pound homes for sale following the election result and the launch of several luxury developments.

Rich vendors in central London had prepared their homes for sale but were waiting for the outcome of the election, concerned that a Labour win would see an introduction of a mansion tax.

However, the new research has also revealed a surge in newly-listed property, across the UK’s four leading property search websites, Rightmove, Zoopla, Prime Location and OnTheMarket, at all price points.

The analysis from the estate agent comparison site, GetAgent.co.uk, also found substantial activity in the mainstream market as the number of homes listed up to £500,000 increased by 66pc to 4,028 between the week beginning 9 April and that beginning 14 May.

Colby Short, co-founder of GetAgent said, “The stability of a majority government has clearly helped consumer confidence and the effect of this on the property market is borne out by these asking price increases.”

Buyer demand has increased as well, the data showed, but Johnny Morris, head of research at Hamptons International, said he does not expect to see the panic buying and frenetic house price growth in evidence in the first nine months of 2014.

“We expected to see an increase in listings and asking price after the election but there are two fundamental differences between this May and 12 months ago. Firstly, mortgage availability is tighter holding back first-time buyers. Secondly we saw a lot of buyers coming to the market last year as the country suffered from a long term slow erosion of stock,” he said.

Many buyers, worried they would not be able to afford to get on the market in a few months time, piled in and drove up prices further, he said. In the meantime, sellers were tempted by rising prices to wait just a few months longer to make more money.

“This combination made for a hot housing market,” he said. “In comparison the market still seems quite subdued and there still remains a gap between what the buyer will pay and the sellers’ expectations.”

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