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British house prices are expected to fall significantly in 2009 as banks tighten home lending criteria and buyers baulk at purchasing as a result of worsening economic conditions, Hometrack, a property research house, has reported.
Hometrack said its central forecast was for house prices to fall a further 10 per cent in 2009 and three per cent in 2010 – these were on top of falls of nine per cent in 2008.
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