The majority of Brits do not expect the housing market to recover before 2010, new research has found.
Almost six in ten (58 per cent) of UK homeowners feel the market will continue to struggle for the rest of the year, according to a survey from professional advice website Unbiased.co.uk.
Furthermore, half of the respondents believe they could negotiate a discount of 15 per cent or more with property owners.
Almost one in five younger adults (aged 18-34) are holding off from buying until they have saved a larger deposit.
"There is a general sense that investing in bricks and mortar will be out of fashion for many months to come," said company spokesperson Richard Winder.
He added mortgage lenders much stricter criteria are also discouraging many first-time buyers.
Some homeowners may decide to improve their lot by adding a conservatory or kitchen extension instead of selling at a deflated price.
The Daily Telegraph recently suggested Brits could save themselves money and stress by staying at home and enjoying the garden while on holiday.