ASK THE EXPERTS

Is it a good time to trade down?

DARINA COLLINS

No. There is a scarcity of suitable properties. You are competing with first-time buyers and investors at the lower end of market.

AINE MYLER

Those trading down are often competing with first-time buyers and investors. While property tax rates are benign at the moment, with values having increased over the past few years, a rate change could prove to be expensive for someone living in a large property on a pension, so downsizing might well be the smart thing to do.

MICHAEL GREHAN

Perhaps it is a more challenging time to downsize. The lack of suitable properties available is a limiting factor.

Moving from a larger, more valuable property, for which demand may have softened, to the more popular end of the market where there is greatest activity and mortgage availability, could undermine the financial benefit of such a move.

KEITH LOWE

As no bridgingfinance is available, many home owners wishing to trade down are finding it challenging.

More new homes are assisting matters, as many builders allow buyers to place down fully refundable deposits, giving them time to sell their own homes.

However, it is still the case that sourcing appropriate smaller accommodation in the same locality is often challenging.

This is an especially important factor for those seeking to maintain their existing social networks.

PAT DAVITT

Yes, it is a good time to trade down as demand is good for larger houses and they have increased in price quite a lot. However it is a crowded market with FTBs, which can impact a trading down plan.