Peter Hughes

“June 2007 was the end of a period of 'frantic activity' in the housing market, he says, similar in nature to the late 1980s.”

“There is a shortage of properties on the market, with many people wanting to move into owning rather than renting. However, there is a nervousness among buyers owing to uncertainty over the future of…”

“'The number of sales is dramatically down on where they were in 2007,' he says.”

“When a house came on the market, there were 10 people who wanted it and they started bidding,”

“Prices are now 5-10% below where they were at the peak of the market.”

“Peter Hughes has been an estate agent for 27 years and now operates in West Sussex.”

“When a house came on the market, there were 10 people who wanted it and they started bidding," he says.”

“The agent says that a few days ago he saw the first bidding situation since 2007, although the selling price may have ended up as a one-off.”

“The number of sales is dramatically down on where they were in 2007," he says.”