With House prices in the UK rising well above the rate of inflation. There are some in the industry who suggest that now is not a good time to start buying. Furthermore there are various disadvantages associated with home ownership. See these
Disadvantages of buying a house
However although house prices may be overpriced, in the long term there is a good chance that buying a house will prove to be a good investment. Furthermore buying a house is not wasted money. It enables you to some day purchase a house outright, pay of f the mortgage and be able to live rent free in your retirement.