Estate agencies now selling less than one house per week

The plight of the UK property market has been underlined by recent figures which show how difficult estate agents are finding it to sell property.

As a result of a lack of mortgage finance, the average number of properties sold by each agency in the last quarter of 2008 fell to just 10.1, according to a survey by the Royal Institute of Chartered Surveyors (Rics).

This is the equivalent of less than one house per week and Rics spokesman Ian Perry made it clear why he believes the market is so stagnant.

"Buyer interest is now at levels not seen since 2006 but without mortgage finance the housing market is at a standstill and transaction levels at an all-time low," he explained.

With the market in turmoil, some homeowners may opt to improve rather than move and adding a loft conversion with a roof light may be the ideal solution for those looking for extra space.

The BBC recently reported that figures from the Council of Mortgage Lenders show a massive 59 per cent drop in mortgage lending between November 2009 and November 2008.