There is still an availability of good mortgage deals but first-time buyers will wait for the market to improve, it has been suggested.

Paul Collins, property editor of Buy Association.co.uk, spoke about the decline in house prices and suggested that optimism is not the best way to approach the housing market.

He said: "Anyone who throws in a prediction at the moment is really just guessing. There are so many variables which will lead to a great deal of uncertainty in the market."

Mr Collins added that many first-time buyers will delay until the end of the year in order to save for a deposit for a house for which they may then have the option of securing a better deal.

According to Halifax, house prices fell by 1.5 per cent in February but were almost five per cent higher on an annual basis.

People looking to move house may wish to consider using self storage facilities.

Written by Emily Sanders