Joe Pitarella, a partner in Kings Estate Agents, in Cheddar, is in no doubt about how important it is to try to get people moving. The housing market is the cornerstone of the whole financial market in the UK, he said.

"When houses get sold other businesses benefit," said Joe. "The DIY industry, carpet manufacturers, kitchen fitters, plumbers, electricians, builders, solicitors, surveyors, banks, removal specialists – they all benefit from house sales."

Joe is one half of the Kings partnership, with John Denbee owning the other half of the business. The agency opened in 2010 and may appear to be the new kid on block, but Joe and John are both very much part of the area.

Until 2010, John ran the business as J H Denbee Estate Agents and Joe is a former manager of Alder King in Axbridge.

The key to stimulating the housing market, Joe believes, is more optimism, and less gloomy press speculation. Setting up a new agency during an economic dip shows he has the courage of his own convictions and so far it seems to have been the right decision.

"The market has been up and down on a monthly basis over the last year, however, we have found our business building nicely," he said.

"Confidence in the local market is up and confidence in Kings has also increased."

As an example of how important realistic pricing is at the moment, Joe tells the story of a clever vendor, Mrs L, who wanted to sell her property quickly.

She put it on the market at a very reasonable price and it attracted so much interest that she ended up with £15,000 more than she expected to get.

Joe said there is no reason why people should not be moving house at the moment.

"Yes, prices are down," he said. "But that is on all property and therefore the differential is the same, unless you are a first-time buyer."

For first-time buyers, he acknowledges, there is a problem just now, with no simple solution in sight.

"The banks are being very cautious with lending and even with a 10 per cent deposit it is very difficult to get approved. Affordable housing is not necessarily the answer because when the boom times come there could be a cap on how much the properties can go up or a percentage under market price restriction and these buyers may find that they cannot move because of a lack of equity. I really do not know what is going to help first-time buyers other than generous family support or waiting and saving."

Kings currently has a wide range of properties on its books – everything from small flats to farm houses – as well as building plots, shops and commercial premises to let and sell.

Looking ahead to the next 12 months, Joe's optimistic attitude continues and he believes things will improve.

"The start of the year has been very encouraging and people are tired of waiting now. They just want to get on with their lives and leave the recession and credit crunch behind them."