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That's the ideal case and I think is what should happen. If you buy a property from a property developer here, they will ask you to pay a deposit because new houses are in demand, and most people will oblige. But for second hand markets, we only pay a 10% deposit when the contract is exchanged.
The cost of construction materials have also increased in UK during Covid as lots of people have nothing to do so are doing a lot of DIY work. Seems like the rising house price is the same all over the world. I feel a bit sorry for the next generation, it will be even more difficult for them
RE: The madness of buying and selling a proprty in England