"First-time buyer demand drops"

Says the BBC.

Super, a crash bang on cue. They happen every 18 years, see graph of house price-to-earnings ratio here, or for the more discerning reader, look up Fred Harrison's 1983 classic "The Power in the Land"*, which explains why they happen.

Further, per the BBC, house prices have already gone into reverse in Scotland, being down 2.2% this quarter.

*I can't track that book down on-line (it was written 1983), not even a review, but it's summarised in the opening lines of a review of Fred's new book.