House prices could fall in Britain by as much as 10% in the coming year, the world's leading economic authority has warned, The Telegraph reports.
Britain is heading for a decline in the housing market similar to that in America, while the number of people having their homes repossessed could double, the International Monetary Fund said. In addition, millions of home owners face an increase of £3,000 or more in their annual mortgage bills as a result of the credit crisis, the report said. THE BANK OF ENGLAND IS UNDER intense pressure to cut interest rates again tomorrow after house prices fell by the biggest margin since the early 1990s crash and ministers tried to prevent a spate of repossessions, The Times reports. Gordon Brown i...
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