Increased interest rates mean increased financial risks for buyers.
The housing market has performed so well and for so long that many have come to see it as the goose that lays the golden egg, and even risk free.
However, the market is subject to change depending on the wider economy.
Given the strength in the global economy, the Bank of England is intent on keeping inflation low. This may mean interest rates continuing to rise, perhaps by more than many have factored into their purchase decisions.
Whether house prices actually decline depends on many other factors including the state of the labour market.
