New figures from the Government have confirmed what many estate agents have said – property transactions are very much down year-on-year.

The figures found transactions on residential property worth over £40,000 numbered 131 in September 2005, 153 in September 2006, 130 in September 2007 and 61 in September 2008, representing a drop of just over 50% in transactions.

This slow market is set to continue, property experts predict, until at least next year when some forsee the property market will bottom out .