Property owners in the UK have been advised to be more realistic about how much their home is worth.

According to Rightmove, people have got used to a climate of rising prices during the housing boom of the last decade.

However, growth in the market has tailed off as a result of the credit crunch and other recent economic problems.

Therefore, commercial director Miles Shipside believes consumers must get used to the new environment they are faced with.

He commented: "We have had rising property prices now for 15 years.

"It's a tough adjustment for people to make."

Mr Shipside added that factors such as rising unemployment rates and increased repossessions could negatively affect the property market.

According to figures from HM Revenue and Customs, the number of property transactions in the UK has fallen by more than half in the last year.
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