According to Nationwide, house prices are currently one per cent less than they were this time last year as prices fell for the sixth consecutive month in April.
Change of address service iammoving.com has warned that first-time buyers should wait till the market stabilises in the medium-term.
The firm's business development director Peter Beckett explained: "If you rush into something now, you could find yourself in a negative equity position, having borrowed in order to be able to afford to secure the property in the first place."
Mr Beckett also advised first-time buyers to avoid unsecured
For those who do not have the advantage of relying on parental support, inheritance or
According to the firm, 42 per cent of first-time buyers are using
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