Rightmove have just released their November House Price Index and the average home is now taking over 90 days to get an acceptable offer. This is the longest time since Rightmove started recording this figure over 5 years ago.

Miles Shipside, Commercial Director of Rightmove comments: “Prices are set to flatline in 2008. While we do not expect a price drop overall, there will be parts of the country that are over-priced and over-supplied for the likely levels of affordability and demand next year.

In these areas, motivated sellers are starting to cut their prices and will need to be the cheapest on the street to sell. Whilst bargain hunters will be paying less for these properties, prices will rise where demand continues to outstrip supply in quality areas close to major conurbations, especially London.”

Even more proof things are on the slide

In an article in the Financial Times on Saturday 17th November they reported Britain's largest estate agent chain, Countrywide, is to close down branches following a growing trend in cancelled sales.

Countrywide employs over 10,000 people in companies like Bairstow Eves, Abbotts and Hawkins.

I also found a BBC 'Have Your Say' post, How Concerned Are You About The State of the UK Economy. It has had a huge response from the public with many talking about the housing market. Definitely worth a read.

So why am I being such a doommunger? 

I'm not, I'm just telling you how it actually is.  It's not a 'bit slow' or a 'little quiet', things are changing fast. 

The good news is, if you need to sell, there are ways to make this happen for you in a positive way, but as Mr Shipside says in his report "You need to have strong nerves and employ a switched-on estate agent to help you negotiate not only on your sale, but on your purchase as well."

It's time to stop seeing all agents as pretty much the same and start finding out which ones really are smart marketers and deserve your business.

ahem... We're pretty good!