The NAEA has reported a rise in the market share of first time buyers in December.
Average UK property prices fell by 3.2% in December, bringing annual house price inflation down to 4.8%.
House buyers are not spending enough time researching the mortgage market before making their final decision.
The Bank of England’s Monetary Policy Committee has decided to keep UK interest rates unchanged at 5.5%.
Figures released by the Halifax show a 1.3% rise in average property prices during December.
Data released shows a decline in the remortgaging and fixed rate mortgage market.
The Halifax has identified the ten most likely property hotspots in the UK for 2008.