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'Stagnant property market creating uncertainty'

Uncertain property marketBuyers and sellers are currently both uncertain about the state of the housing market, according to online property website Briffy.com.The uncertainty revolving around house prices in the UK has created a "very stagnant market", according to one online property website.

Briffy.com claims both buyers and sellers are "very frightened" about what will happen in the market over the coming months – which could result in householders looking for home improvement quotes as they plan to stay put in their current property.

David Amstell, founder of Briffy.com, said the more stagnated the market becomes, the more sellers will be forced to drop the asking prices of their properties.

He added: "The fact is that at the moment everybody is very frightened about what is going to be.

"Nobody knows whether prices are going up, down or sideways and they are all being very cautious and therefore people are not buying and people are not selling."

Data from the latest Halifax House Price Index showed that property prices fell by 1.7 per cent during April, with the average home now costing £154,716.
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Article Added: 08/05/2009 11:41:35
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