A relatively quiet autumn is a good time to take stock of a "choppy" market, says Michael Fiddes, Head of National Sales for Strutt & Parker.

These are confusing times to be looking at the property business. After the disastrous crash of 2008, and predictions of unending gloom, there followed an entirely unexpected spike in prices in mid-late 2009. There was a definite sense in some quarters that we might be building up to something like the "good" old days, that housing might indeed be somehow immune from the bad times, and there was a rash of over-valuing in the spring as a result.

Now that sense has very definitely passed, as a continuing lack of available finance and a general feeling that we don't yet know whether we are out of the woods has sobered people up somewhat. It may be tough, but these conditions are better than what would have been the inevitable alternative - yet another sudden dip that would have been much more of a disaster. Instead, this has been a year of consolidation and correction, and the relative quiet of autumn is a perfect time to assess where we are.

The autumn market has been getting progressively quieter for something like the past 10 years - over-promising and under-delivering - and this year that trend has been particularly noticeable. Deals are being done, but people are not in any hurry. The good news is that once a price is agreed and proceeded with, the fall-out rate, with Strutt & Parker at any rate, is very small. There are serious buyers around, but they are thinking long and hard before taking the plunge. People are understandably anxious not to over-commit.

The good news is that we are agreeing sales at the same level as last year - with more than one buyer for a property pitched at the right price. But while a bit of economic good cheer, such as the GDP figures last week - up 0.8 per cent year on year - is welcome, it makes no difference to the market. Much more important are indicators that people see and feel personally, such as job security and availability of funds.

Property buyers want to feel safe looking at the prospects over the next five years, and the waters still look a bit choppy. Another key indicator for a buyer is whether there are numerous people looking to buy the same house. With little activity people still feel they are having to guess if property is on the bottom - and they don't like it.

In the current market, it is clear that the closer you are to London, the more consistent the trading is. There is plenty of activity in the commutable Home Counties in the £1 million to £2 million bracket. Buyers are making a common sense choice: it's about geography and value for money. There is no room for indulgence or speculation.

In these choppy waters, a good relationship with your estate agent is key. Particularly with high value property, anxious sellers are increasingly tempted to test the market quietly - and, typically, for too much money. This makes buyers very suspicious. Far better to have a proper marketing strategy: prepare the property correctly and be ready to press the button when the time is right. It is the responsibility of the agent to judge that timing. If you go in quietly, nothing is going to happen and it saps everyone's confidence. The agent is there to take the anxiety away.

At Strutt & Parker we are ensuring that prices are set realistically before properties go to market, not reset as a desperate rescue effort subsequently. We are doing what experienced agents must do: bridging the credibility gap.