Is this the right time to trade up your property?

Good article about whether its a good time to buy into the hard hit top end of the market, from the article:

There are plenty of losers in the falling market, but the big winners will be those able to pounce on a cut-price premium property.

Though the downturn is being played out differently from suburb to suburb, it’s clear the properties at the top end of the market are being hardest hit. Exclusive suburbs such as Balwyn have seen as much as 21 per cent sliced from their median prices in the year to December last year.

The houses in the $500,000 to $600,000 bracket haven’t been as hard hit and some may have dropped only 10 per cent.

They are also expected to rebound quicker.

Read the full article here: http://www.news.com.au/heraldsun/story/0,21985,25074641-5013926,00.html

Mark Forytarz