For anyone buying or selling a property , it doesn’t really matter too much what’s happening market wise, writes property market analyst and commentator Kate Faulkner.

When prices are going up, it’s easier to sell your property, and although you may have to pay out more for the inevitably larger property you are buying you still get to move and, over the long-term, will benefit as prices rise.

You also do well if prices are falling, as although you may not get as much for your property you should save money due to the property you are buying being cheaper. For example, if you sold your £150,000 home for 10 per cent less than it was originally worth (selling it for £135,000) and bought a £300,000 home for 10 per cent less than it was originally worth (buying it for £270,000), overall you will save £15,000.

Unfortunately, it doesn’t always work that the property you are selling and the one you are buying are both moving in the same direction price wise, so it’s important to understand the individual markets for the property you are selling.

To decide whether now is the right time to buy and sell, you should ask yourself: * How many similar properties are for sale?

* What percentage of properties are sold versus for sale?

* How long will it take to sell your property?

* What do buyers of your property want – a wreck or a show home?

Once you have a good idea on the answers for your own property, you can then find out the same information for the type of property you want to buy.

If you are looking to trade up to a larger property, whether the market is falling or stable, it is important to make sure that you:

* Don’t financially overstretch yourself

* Have a deposit of at least 10 per cent and ideally 25 per cent

* Understand the increased costs of running and maintaining your new home

* Make sure you can afford the property when interest rates return to five per cent

* Understand how much 0.5 per cent increases in mortgage rates will affect your mortgage payments