The number of houses sold per estate agent in the South East fell to a fresh low last month - but the industry remains hopeful for better times ahead.

A report from the Royal Institution of Chartered Surveyors found the average number of completed sales per estate agent in the South East fell to 10 in the last three months, or well under one a week.

Chartered surveyor Mike Hewson, of estate agent Ibbett Mosely in Tonbridge, said in his contribution to the report that "new sales had been hard to come by".

He said: "Until some stability returns to the economy, prices will probably continue to fall, or owners will just sit tight and not sell.

"There are many people who would like to move. At some time there will be a lot more activity - we just do not know when."

He said it had been "quite a good month" for exchanges and completions on previous sales.

Chartered surveyor David Parry, of Cluttons in Maidstone, said: "The majority of sales agreed have proved to be abortive due to difficulties in obtaining a standard mortgage - lenders appear to be resisting providing any new mortgages at the present time."

The RICS figure compares with a previous regional low, issued in early September, of an average 11 completed sales per estate agent over three months.

The current national average is 11.5 sales per estate agent in the past three months, a fall from 12.7 in the previous figures.

London fared the worst, according to the RICS survey, with an average of just 8.3 completed sales over the past three months.

The figures came a day after the Government said it would inject up to £37bn of taxpayers' cash into Royal Bank of Scotland, Lloyds TSB and HBOS. The banks have agreed to boost lending as part of the deal.

*UK inflation rose to 5.2 per cent in September, in the wake of new higher energy bills, official figures show.

Commentators believe this will mark a peak, due to lower oil prices and reduced demand.