According to various surveys, house prices rose by between 1.4% and 1.6% more in February, compared to January. Prices just seem to keep rising, making it increasingly difficult for first time buyers or lower earners to get on the property ladder.
Another survey expects house prices to continue to rise until the summer of 2002 and then fall back by up to 2%. Other feelings are that demand for housing is so high, prices can justifiably continue the upward trend. If buyers are not sensible with what they can realistically afford, this could lead to a replay of the housing market crash in the 1990's where buyers were committing too much income to mortgages.
The name of the game and clear message is not to over stretch yourself on a mortgage and make sure your payments are protected in case of accident, sickness and unemployment.