THE number of people looking to downsize their home is nearly double that wanting to buy a larger property, according to property website Rightmove. - Personal Finance - Business - WalesOnline

THE number of people looking to downsize their home is nearly double that wanting to buy a larger property, according to property website Rightmove. - Personal Finance - Business - WalesOnline

Britain’s ageing population, as well as a squeeze in lending, are thought to be driving this trend.

Meanwhile, demand from first-time buyers continued to fall after the stamp duty holiday on homes between £125,000 and £250,000 expired in March.

Only in London was there more uptrading activity, bolstering evidence of a two-speed housing market in the UK, Rightmove added.

Miles Shipside, Rightmove director, said: “The ability to trade up is a vital component of a healthy housing market.