One-third of home sellers trade down - property website

A survey by the online estate agency found while two-thirds of househunters are buying homes more expensive than the ones they are selling, one-third of sellers have chosen to move to a cheaper home to get their hands on some extra cash. Homeowners doing so are on average releasing a whopping £112,000 of equity as they are move down the property ladder, the survey says. Majority (54%) of people to trade their home for a cheaper one because they want to change to a less pressured lifestyle or repay their mortgage. Some 19%, however, are using some of the equity locked into their hom...