Henry Pryor Says: Trick or Treat?

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If you answer the door tonight to the sound of "Trick or treat", then beware! The haggard look and frenzied eyes aren't necessarily part of a Halloween costume - this person hasn't slept in weeks and is in trouble. He or she is your local estate agent.

The 'treat' could be a long story about how the market has dried up and they have got no houses to sell. The Royal Institute of Chartered Surveyors, Rightmove and Hometrack all tell us that through the summer there has been a huge drop (up to 40%) in the number of properties coming onto the market.

My own statistics suggest that there are less than 750,000 individual properties on the market now - there are usually over 850,000.

If you were tempted to sell, they will say, then they could do you a really attractive deal on fees. I bet they could. Whilst nationally there are 66 houses for sale per agent, most are old stock that hasn't sold and there are lots of agents who's cupboards are nearly bare.

However, the 'trick' that they might bring is confirmation that the market as a whole is slowing. No, scratch that, has slowed. To a shuffle.

The latest Land Registry figures tell us that there were 33% fewer homes under £250,000 sold in July compared to July the year before.

This follows 25% fewer in June and 15% fewer in May. At this rate, even if the agent tempts you to put your house on the market with a cut rate fee, the chances are that without serious motivation and damn good advice you won't actually be able to sell.

So, whilst instinct might tempt you to shut the door and hope that the caller goes away remember, that like bin men at Christmas, estate agents have long memories and it might be worth bunging them a tin of beer to help them drown their sorrows.

There will come a time when you might want to sell and then you will want them to come calling.

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