Is it a good time to trade down?
Yes, principally because the property that the vendor is downsizing from has increased in value disproportionately to the property they will be moving to and there is an increased supply to choose from to make the move viable.
Douglas Newman Good
Property price recovery facilitates more movement within the market, especially for downsizers, providing the option for vendors to sell their home, buy another and be left with a nest egg for the future. The last 12-18 months, particularly in the capital, has been a good time to trade down, as higher-priced Dublin properties have recovered quicker than any other price sector of the market.
It's probably the best time to trade down since the market crashed. The lower end of the market was the first to bounce back while the last 24 months has seen the upper end go from strength to strength. The current differential should make it a worthwhile exercise.
Real Estate Alliance
I think this is location specific. If a person is situated in Dublin, commuter locations or an urban area where there is a shortage of supply of new homes, there will be competition from first-time buyers. If a person is in a position to move now before the Central Bank proposals are confirmed, then they should.
Yes, the slower rate of growth being experienced in the market allows those trading down the time to secure a suitable property without experiencing degradation of their capital. I believe there will be a greater choice of apartments and 2/3 bedroom houses in 2015.