Potential homebuyers have been warned to ensure their job is safe and they find a mortgage deal that suits them before tendering an offer.
Firstrungnow.com specialises in helping people get on the property ladder, but managing director Helen Adams said there should be no rush.
Her words may resonate with homeowners considering whether to buy a conservatory or move house.
"From many lenders the requirement for a mortgage is still 25 to 35 per cent [deposit], so it is still quite difficult for house buyers, because even though house prices have come down a bit they are still very high," Ms Adams said.
She added it is difficult to tell whether property values will come down further – or whether they had hit their lowest point.
Her comments come after moneysupermarket.com figures showed the number of 90 per cent loan-to-value products fell by 97 per cent since January 2007.
According to the Right Move House Price Index published in May, new sellers push up property asking prices by 2.4 per cent.