A quarter of all homebuyers who only had a mortgage valuation report had to make unplanned building works to their property after purchase. On average, the bill for these works, such as damp proofing or repairing a roof, came to £1,818.

David Dalby, RICS residential director, said: “In difficult economic times like this it makes sense to ensure homebuyers get the best possible value when purchasing a property. No one wants to find a nasty surprise down the line, or pay over the odds for a property that needs lots of work.”

Around 76% of buyers questioned by the RICS, said that a survey helped them to better negotiate with the seller.

The results from the RICS come after RightMove reported a 3% increase in property prices this month, despite the housing market slump.