Property sector is 'either buyer's or seller's market'
Monday, 10th November 2008

The housing market is never static, with the sector either being dominated by buyers or sellers, it has been claimed.

David Amstell, of virtual estate agency Briffy.com, said that after everything settles back into the usual trend of rising house prices, the market will prove problematic in a number of other ways, instead affecting sellers.

He continued: "At the moment it is a buyer's market so the sellers are unhappy and when it is a seller's market the buyers are unhappy, that's the way it goes."

The recent house price index carried out by Halifax found that prices during the month of October dropped by 2.2 per cent, with prices returning to the level found three years previously at £168,031.

Despite this, the Halifax added the average UK house price is still 22 per cent higher it was five years ago, with the average property costing £138,208 in October 2003.