Lucian Cook, director of residential research at Savills, said there was the risk of "unintended consequences".
Fionnuala Earley, residential research director at estate agents Hamptons International, said: "House prices have completely outstripped income growth.
Six months in, Lucian Cook, director of residential research, says prices could rise by up to 5% this year.
"Central London usually leads the UK out of a downturn," said Liam Bailey, head of residential research at Knight Frank.
"Stock shortages persist, which is good news for landlords," says Jacqui Daly, director of Savills residential research.
"We see prices rising by 3% this year, just slightly above inflation," says head of UK residential research, Gráinne Gilmore.
Adam Challis, head of residential research at property agent JLL, said: "Newbuild properties are heavily reliant on off-plan investors to trigger development finance.
Susan Emmett, Savills' residential research director, said that 60,000 new homes were built per year during the capital's last population peak, in the 1930s.
As shares in Savills jumped, Lucian Cook, its head of residential research, said activity would return to top end of the housing market.
Liam Bailey, head of residential research at estate agency Knight Frank, said he expected the tax change to have only a "marginal impact" on demand and prices.
Neil Hudson, associate director of residential research at estate agency Savills, said the housing market was already working against young people before the downturn began.
