It's going to be a tough competition among house hunters as the latest numbers reveal that there are 10 buyers for every property for sale, the Daily Mail reports.
According to the National Association of Estate Agents, there is an increasing gap between the number of people who want to get in the market and the number of properties in the market, and it is not helping with the housing crisis.
The statement come just days after house prices are said to be expected to soar 50% in 10 years to an average of £420,000,
An increase of 20% in the number of house hunters at every estate agency was observed by NAEA, citing that the numbers are up to 403 in November from 336 of the previous month.
At the same time, each branch also managed lesser number of properties in October to November from 43 to 41 respectively.
More prospective buyers are also expected to come out with the New Year, however more properties are also expected to get in the market.
Expected to be affected most by the outlook are first-time buyers who might be squeezed out of the property market because of the expensive house prices, says agents.
For NAEA managing director Mark Hayward, 'It's very normal at this time of year that demand is high and supply is low. House hunters hoping to find their dream property in the New Year have registered interest with agents. But supply is outweighing demand so heavily now that it can't solely be attributed to seasonality.
'It's clear that we're faced with a crisis here: the housing market needs addressing as a matter of urgency.
'House prices are set to rise by 50 per cent - and if we don't act now, this will impact first-time buyers, second steppers and last steppers, forcing many out of home ownership.'
Still a resounding warning even with the Government's plan to award 20% discount on first-time home buyers 40 years old and below under plans for new Starter Homes.
However, for experts, the measure may not be enough to correct the market.
Mr Hayward continued: 'It's all very well planning to build houses, but we need to move to action and get and the bricks and mortar on the ground, if we're to solve the crisis we're faced with.'
And Stuart Gregory, managing director of mortgage brokers Lentune, said: 'These figures fire a warning shot to David Cameron and George Osborne.
'It's easy to talk about building more houses but until we see action the problem will only get worse.
'Such supply and demand issues only make house prices stronger, and combined with interest rates being held low by the Bank of England it's a cocktail which the Government seem unable to control.'
In April, buy-to-let investors will be subjected higher buying costs via increased stamp duty rates, which aim to reduce the number of property-buying landlords who will end up catering to cash-strapped first-time buyers.
