Stamped On

HOUSE sales have PLUNGED by nearly 20 PER CENT in the past two weeks-thanks to the government's stamp duty bungle.

The drop has brought the struggling housing market shuddering to a virtual HALT as potential buyers wait to see if the duty will be suspended, saving them thousands of pounds.

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Gordon Brown hinted at the move three weeks ago-but nothing has been confirmed since, leaving sellers and buyers in LIMBO.

Estate agents are selling an average of one house a week, according to Royal Institution of Chartered Surveyors. RICS spokesman Peter Hogan said: "The market is on its knees already, and this has made the problem worse.

"Some of our members aren't selling any properties at all. Buyers are pulling out of deals, delaying buying property and even demanding a discount because of stamp duty.

"The government needs to make a decision."

Liam Bailey of agents Knight Frank said sales had slipped by 15 TO 20 PER CENT since July.

And Hamptons International revealed their sales dropped by 17 PER CENT last week alone-while for some sellers the fiasco has had devastating consequences.

RICS member James Scott-Lee said: "I know of one case in Surrey where someone ended up being repossessed because their deal fell through at the last minute."