[etccarmageddon]

that's right Andy - the first time buyers are being priced out of the market plus the buy-to-let market is heading for saturation. People are over extending themselves in order to get on the ladder or move upwards - add to this the prospect of an interest rate rise and you have all the ingredients for a 'correction'. in the same way the stock market 'corrects' itself when it has gone too high.

the only positive is that market supply of new houses isnt matching demand.

if you intend to buy a house now just remember this... the best time to buy is at the bottom of the market not when it's at the top.