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According to Katy John of PricedOut.co.uk, affordability needs to be measured in relation to average incomes.
Prices are currently more than five times this amount, she said, meaning it is currently difficult for new buyers to enter the market.
However, she added that they are set to fall further in the coming months.
"[We] would urge first-time buyers considering buying now to make sure they bargain for a good price and only borrow what they can afford," she remarked.
Her comments came after a study by Lombard Street Research and the Daily Telegraph revealed that housing was at its most affordable level since 1996 during the first quarter of 2009.
Their housing affordability index rose from 108.4 points to 118 in the opening three months of 2009, with 100 representing the average affordability level.
