Should you delay or plan your home purchase now, with mortgage rates at an all-time high and house prices falling?

Are property prices about to crash?

First-time buyers are now confronted with some of the highest mortgage rates seen since the financial crisis.

Should you postpone your plans because mortgage rates are high and house prices are falling, or is now a good time to bargain?

Due to higher mortgage rates, first-time buyers will be concerned that the country is on the verge of a housing crash.

According to Halifax's latest house price index, house prices fell 0.4% in October, the third drop in the last four months.

Some would-be first-time buyers will postpone their plans until mortgage rates fall, or the housing market improves.

However, we are finding that sellers are more receptive and open to negotiation than they have been in recent months.

Because of the current market conditions, fewer buyers may compete with one another, leaving more room for negotiation with sellers.

The greatest concern is that the risk of falling into negative equity for those purchasing with small deposits is increasing.