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Estate agents and first-time buyers

Journalist: Callum Mason, i

ended 23. September 2025

A couple of years ago, there were some property predictions that suggested that prices would drop significantly over the coming years as interest rates rose.

These have not come to fruition, but have estate agents heard from some buyers who have been putting off purchases because of hopes that prices will fall?

5 responses from the Newspage community

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Editor
Harry Goodliffe
Director at HTG Mortgages
The property market has a mind of its own, and despite all the grand predictions of a crash, it's proven to be incredibly stubborn. For the past year, we've seen numbers of first-time buyers caught holding, convinced that if they just waited a little longer, prices would fall off dramatically. The reality is that the big crash never came. Instead, the market simply leveled out. Now, those same hopeful buyers are realizing that the perfect storm of low prices and low rates is unrealistic.
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Editor
Chris Barry
Director at Thomas Legal
Some property commentators have spoken of a crash for a long time now. The real pull back has already happened when inflation outpaces the rise in asset prices. Property prices at in certain markets are coming down due to a widening gap in supply and demand with some buyers staying away from investment properties due to budget concerns
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Editor
Pete Mugleston
Mortgage Advisor & Managing Director at onlinemortgageadvisor.co.uk
Unlike 2008, we haven’t seen a wave of forced sales this time round. Mortgage holidays and lender flexibility have helped existing homeowners stomach higher costs, keeping supply tight. At the same time, a growing population and years of missed housebuilding targets mean demand still far outstrips supply. That’s why prices have stayed far more resilient than many first-time buyers were hoping for.
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Kundan Bhaduri
Entrepreneur, Investor and Landlord at The Kushman Group
The great house price crash prediction has become the most expensive myth in British property history. The tragedy is that many buyers mistook temporary market softening for structural collapse.

Yes, transaction volumes fell and some vendors accepted modest reductions, but the fundamental shortage of housing stock prevented any meaningful price correction. Meanwhile, rental costs have soared, meaning those hopeful purchasers paid thousands in additional rent while waiting for bargains that existed only in wishful thinking.

The harsh reality is that England's house prices are supported by chronic undersupply, planning restrictions, and population growth that overwhelm cyclical interest rate movements.
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Omer Mehmet
Managing Director at Trinity Finance
First-time buyers holding out for a house price crash are chasing unicorns. Prices have dipped but not collapsed, and the bigger blow has come from soaring mortgage rates that slash affordability. The danger is that by waiting for bargains that never arrive, buyers risk being locked out altogether. In today’s market, the real gamble isn’t buying now — it’s standing still.