Subdued market hits Clegg home sale

DEPUTY Prime Minister Nick Clegg has fallen foul of the stagnant property market with his constituency home in Sheffield, which he put up for sale in September, failing to attract the attention of a buyer.

The three-bedroom semi-detached house is in one of the region's most desirable residential suburbs and homes which come on the market in the area are usually snapped up quickly, according to estate agents.

It is close to two of the city's most highly-regarded secondary schools and within easy reach of the Peak District, but a spokesman said there had been "some interest" but no serious buyer was in the frame.

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Neither the selling agent or the asking price of the house has been advertised and no "for sale" board has been put up in the garden of the house in Knowle Lane, however.

It is also not found on the most popular internet house buying sites, which is where many potential purchasers look to find a new family home.

Mr Clegg's spokesman said the house was being marketed in a "more subtle" way and added: "It is still on the market. There has been a bit of interest but nobody has made a formal offer on it yet.

"When the house is sold Mr Clegg will be renting a home in the constituency to bring him into line with the new rules on MPs expenses."

Mr Clegg faced controversy before the General Election when it was revealed he claimed 84,000 in four years on the home which he described as a modest property, in a poor state of repair when he bought it.

The new expenses rules mean that MPs are not allowed to make a profit on a second home.

Mr Clegg has pledged to return any profit he makes on the sale of the home to the taxpayer, although he may make a loss, meaning the taxpayer loses cash on the transaction .