More homes for sale but prices continue to fall

Well i am a bit hard headed about all this and have lived through successive highs and lows (both of house prices and mortgages) since I bought my first property in 1985. What saved me from a bad sell as others in my block were letting go for £20k under (and this was 1/5th of their purchase price, was being free to move out as I disliked living there, rent the flat, live elsewhere and wait for the market to recover. Again in 2002 we were in a roomy victorian house that was different to other houses in the area but lacked a large garden so you can imagine the families liking the house but the garden was a no no. After 1 year with estate agents doing their best I eventually marketed it online and sold at £1k below my asking price and included most of the furniture, to a chap who wanted to let the rooms out. Lesson learned - it will always sell, if you have the time and can wait, that is. When my mother in law died we were again faced in 2008 with a recession and few were buying. A lovely house, but unsavoury neighbours of the recently settled variety. I tried privately and with an agent. By now I recognised the buyers who had been on an expensive training course with companies who 'taught' you how to negotiate, string the buyer along and then just before exchange decide to try and have you accept up to £30k less or pull out. I let them pull out and after 9 months revamped the kitchen, modernised with a face lift and new carpets and successfully let it for 18 months. It sold for the asking price to a couple who had viewed it 2 years prior. They evidently liked it enough to pay the price ... well okay, we had reduced it from £220 to £200 at the recommendation of an agent. We were fortunate; didn't need the money urgently; didn't mind moving elsewhere and renting (or even buying another house in one instance with 2 mortgages going, while the rented house was waiting sale).

Hey Nick, is that the same 50% fall that you've been predicting for more than 2 years? Do you mean 50% from today's prices, 50% from the peak or 50% from the date that you started this mantra? Maybe you'll always hope for 50% from the current price.. I see from one of your earlier posts that you want to meet back here in 3 years so that you can rejoice in being proved right.. Only 5 months to go now.. http://www.lovemoney.com/news/property-and-mortgages/mortgages/3492/five-new-property--mortgage-tips According to Nationwide, UK-wide prices are up 7% since your post above.

Yes estate agents are no help when trying to sell properties, often giving sellers high values to gain the contract. But its the Surveyors that say to the buyers (and the banks) what they feel the properties are worth, so surely at the end of the day, they too should take a little of the blame for the high sales prices we see?