It is "really important" that first-time buyers make sure that they are prepared for any fluctuations in house prices.

Alexander Hall said that new buyers must consider their options before buying a property.

The firm pointed out that it is vitally important that homebuyers do not purchase a home without first considering what position they will be in if house prices drop.

The current housing market climate has forced homeowners to consider their position within a market which is not booming.

However, Andy Pratt, spokesman for Alexander Hall, said that with enough preparation most new buyers will get along fine.

"The one really, really important thing that first-time buyers need to understand is that they should look at the options," he commented.

"Look at what would happen if house prices went up, stayed the same, went down by five per cent or further.

"They need to look at that in relation to their own circumstances and see how long they will stay in their property for," continued Mr Pratt.