Property markets move in cycles. Understanding the general shape of a cycle will not tell you exactly when to buy or sell, but it helps you make calmer decisions.
The four broad phases
Markets tend to move through recovery, expansion, peak and slowdown. Each phase brings a different mix of buyer confidence, supply and pricing.
- Recovery: confidence returns slowly
- Expansion: demand builds and prices rise
- Peak: growth flattens
- Slowdown: buyers become more selective
Look at your own timeline
For most people the right question is not what the market will do next quarter, but whether a purchase or sale suits their finances and plans for the next several years.
Time in the market matters more than timing the market.
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