Homeowners who have been looking to sell but feel they arent being offered a fair amount for their property may have to look at other options.
One such option could be to build a conservatory to boost the value of the home, which also gives the added value of making the property a nicer place in which to live in the meantime.
Figures from the Royal Institution of Chartered Surveyors (Rics) show how inhospitable the property market is for sellers at the moment – with an average of just 10.6 homes being sold per estate agent in November compared to 10.9 in the previous month.
November was the slowest month for property sales since Rics began its survey 30 years ago.
"Unless people feel relatively confident about their job prospects, theyre unlikely to even try to obtain mortgage finance unless of course trading down or seeking to release capital," explained Rics spokesman Jeremy Leaf.
"Vendors still have to accept the inevitable fact that house prices are falling and re-price their property to suit current market conditions."
Earlier this year, 92 per cent of the National Association of Estate Agents members agreed that building an extension would raise the value of the property.