STOURBRIDGE estate agents, solicitors and mortgage brokers got together at an emergency property summit to find ways of battling through the housing market slump.

The current financial climate has already seen Your Move in the High Street call it a day - with many other estate agents in the town feeling the pressure and reporting a dip of five to ten per cent on house prices and a drop in sales of between 30 to 50 per cent compared to last year.

But to try and secure the industry's future, Talbots Solicitors staged a property forum at Kinver's Dunsley Hall Hotal attracting more than 40 estate agents, solicitors, mortgage brokers and Home Information Pack providers.

Martyn Morgan, from Talbots, later told the News consumer confidence was a big worry - but he stressed all professionals involved in the house-moving market must work together to reassure and re-educate house hunters and sellers.

Mr Morgan said: "It's a case of weathering the storm until the property market comes back.

"The market is down and the West Midlands is one of the worst hit areas - but it's about educating the buyers that there are solutions out there."

He said all parties involved should persuade buyers and sellers to seek advice from their mortgage broker, with a view to obtaining Agreement In Principle for their mortgage requirement, even before finding a property.

Meanwhile - Lex Allan, of Lex Allan Estate Agents in Stourbridge and Halesowen, said by giving the correct advice to sellers and working harder to achieve a sale - a recession similar to those seen in the 1970s and 1990s could be avoided.

He said: "Most sellers are now accepting our advice, that properties have to be marketed at a realistic price to achieve a sale and avoid disgruntled clients waiting months to sell.

"After all, most sellers are buying in the same market and should be able to achieve a comparable reduction on their related purchase."

Steve Perks, of independent financial advisers and mortgage brokers Hayburn Rock & Associates, said he had seen a rise in mortgage enquiries in May, despite hype about the credit crunch and negative equity.

He said: "People assume they will not be able to get a mortgage but, in the right circumstances, we are very confident we can arrange one for most buyers. There are a variety of government initiatives available."

Sean Ward-Clayton, of the Property Search Group, said Home Information Packs providing floor plans, 3D imaging and panoramic views of the property and surrounding areas could help speed up sales.