In some parts of the country the situation is severe with agents in London, for example, selling an average of just eight properties in the three months to the end of September, according to the latest figures from the Royal Institution of Chartered Surveyors.
But in other parts of the country the number of new inquiries from new buyers is rising giving some hope that the current stalemate could ease.
However that cannot mask the fact that house prices are continuing to fall relentlessly and sales are only being achieved by those who have dropped the price.
RICS said that overall its members had sold an average of just 11.5 homes during the three months to the end of September, the lowest level since its survey first began in 1978.
And property price falls during September increased for the first time since April.
Overall, 84.2% more chartered surveyors reported seeing further price slides during the month compared with those who saw price rises compared with 81.8% more who reported falls in August.
The organisation said the lack of mortgage finance available was continuing to stifle the ability of buyers to access the market, but it added that the government's £37 billion rescue package for the banks, which includes a commitment by the banks to increase lending to homeowners, could help.
'The recent turmoil in the financial markets has dented confidence further but yesterday's announcement by the Government that the re-capitalisation of banks will be accompanied by increased lending to home owners, raises the possibility that the lack of mortgage finance that has so damaged the housing market might be eased,' said RICS spokesman Jeremy Leaf.
'As it stands, only those with significant finances are in a position to access the market. The housing market continues to hold its breath and unless mortgage liquidity improves, the market is likely to remain a dormant beast for some time to come,' he added.
RICS also said that cash rich investors were 'waiting to pounce' on bargains to take advantage of the ever weakening market, particularly in the South West, where the house price boom has been driven by people buying second homes and holiday lets.
