There is a disconnection between house sellers and property buyers in terms of value, according to an industry expert.

Selwyn Lim, director at online housing information portal Mouseprice, said people are so attached to their homes and the price they think it is worth that it is resulting in a lack of selling activity.

Indeed, research from the National Association of Estate Agents recently revealed that there are far more home hunters on the books of agents across the UK than there are residences for sale.

"Really, people are attached to their expectation of value of what was set, either when they bought the place or a few years ago when they realised what it was worth,"Mr Lim explained.

Property is therefore being put on the market for much higher values than people are willing to pay at present, he added.

Meanwhile, property firm Hometrack last week indicated that house prices were down 4.2 per cent year-on-year in October.

Written by John Weeks

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