“The market is interesting and we have had a half-decent month with the ability to move forward,” he said.
However Mr Nettleton reported a general decrease in house prices of 20 per cent on this time last year. And Nock Deighton is to close its Kidderminster branch — which only opened in January last year — and transfer its two workers to Bridgnorth.
Company director David Jones said that although business was brisk at its Shropshire offices, the Kidderminster office was being closed because of a lack of business in Worcestershire.
“There is no doubt that property transactions have dropped over the past six months, however we are still finding ready, willing and able buyers for properties in our areas,” he said.
“Homes have to be bought and sold as part of the natural course of life. It is just a matter of making the appropriate adjustments to reflect these new market conditions.
Fellow estate agent Nick Tart said that considering the economic climate, inquiries were higher than expected.
“Sales have gone up marginally,” he reported.
“Prices have decreased by up to 15 per cent and I would expect a further drop before a true level is found.”
Philip Herdson of Phipps and Pritchard said the market remained slow with “bits and pieces” of activity. He added that prices had come down to more realistic levels after talking to vendors.
Richard Hall of Doolittle & Dalley said his firm had sold eight to nine properties in a month to six weeks, generally involving property at the lower end of the market.
Mark Wiggins, partner for the West Midlands for Strutt & Parker, said his firm had had a good month, taking into account the drop in prices of 15 to 20 per cent.
