Property investment is increasingly becoming a step that would-be buyers are needing to weigh up before making a move onto the property ladder, according to new research.

Property investment is increasingly becoming a step that would-be buyers are needing to weigh up before making a move onto the property ladder, according to new research.

Many homebuyers are attempting to gauge the housing market, waiting for house prices to fall before making a purchase, the research shows.

Around 20 per cent of potential buyers are playing the waiting game but in most cases (75 per cent), their efforts do not pay off as they see house prices increase rather than decrease, a survey by Alliance & Leicester Mortgages revealed.

"It remains to be seen whether waiting will pay off going forward," said Stephen Leonard, director of mortgages at Alliance & Leicester.

On average, this wait is costing potential buyers £33,689 over three years, the study found. For one in five of the prudent homebuyers, property went up by more than £50,000.