Written by Richard Macauley

House prices could still fall up to 15 per cent in the coming year, it has been suggested b the chief of Barclays bank.

In the latest of many predictions concerning house price falls, Barclays chief executive John Varley said in a Sky News interview a fall of up to 15 per cent could be expected.

Unfortunately for owners, this is on the conservative side of many predictions made recently.

"The negative house price inflation started in 2007, it's accelerated in 2008," he said.

"We're probably about halfway through that period, so in other words we've got another ten to 15 per cent to fall between now and the end of next year."

Despite a negative year throughout 2009 though, there is a strong chance that the economy will turn around in 2010, bringing the housing market with it.

"Our expectation is that the UK economy will contract during the course of 2009, but our expectation is that the UK economy will grow again in 2010," Mr Varley added.

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