The National Association of Estate Agents (NAEA) reported that members sold on average four properties in December compared to an average of seven in November 2010.
This was the lowest average figure recorded by the NAEA since January 2003, when an average of two properties were sold per branch.
However, the NAEA said that early signs suggested the first weeks of the new year have brought a resurgence in demand and activity.
NAEA figures showed that the supply of property remained steady in December, when a fall would have been expected, with an average of 64 properties on agents’ books.
In addition, the proportion of sales made up by first-time buyers increased to 25% in December compared to 19% the previous month.
Yet, the number of people registering to look for property fell from 241 in November to 227 in December.
Mike Jones, president of the NAEA, said: “December is always a slow month for agents, but there is little doubt that these figures are worse than usual.
“However, it is important not to read too much into it. This lack of sales can be explained by freak weather conditions, rather than any underlying problem with the market. We would hope to see a bounce-back in the next few months. Indeed, the New Year has begun very strongly and agents have reported a very busy couple of weeks that we are hopeful will continue.”
