Developers get tough on 'walkers'

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Property developers are to take a concerted hardline stance against buyers who try to get out of agreed purchases as house prices collapse.

More buyers are looking to walk away from deals, despite having, put up huge deposits, developers say. Mike Bickerton, the associate director of DTZ Residential, warned that while disputes with buyers were on the increase, the real spike would come at the start of 2010, when a huge number of completions are due.