With house prices having reached an affordability plateau, interest rates rising and another rise on the cards, is it worth hanging on to a property too big for your needs?

There is a national shortage of family-sized homes and with many being occupied by retirees as an investment, with prices unlikely to increase significantly while wages are not catching up, maybe it’s worth considering downsizing and releasing some capital to enjoy your retirement?

Although there are regional differences and some areas are still seeing price increases, overall, house prices are not rising by any notable amount, and in many areas, they are actually coming down.

Some industry commentators have blamed summer as a reason for price decreases, but the reality is more likely to be, people just can’t afford to pay more and the market has reached its peak.

If you’ve been thinking about downsizing but have been waiting for the right time to do it, now might be the perfect time to do it.

Why not talk to your accountant and local independent estate agent for some expert advice on your best options and your local market situation?

You never know, downsizing could mean that you can enjoy a better quality of life and that cruise or holiday you’ve always wanted!