PHOTO: There’s good times ahead for property. Source: Getty Images

Are we there yet?

It’s amazing how the messages have changed in recent times.

Not that long ago we were being told that property prices would fall significantly further, with some property pessimists suggesting we could see a peak to trough decrease in home values of over 20 percent.

Today the common theme is that the property market will turn later this year or early next year, with many asking “have we reached the market bottom yet?”

But as they say – no one rings a bell when we reach the bottom, so how do you pick the turning point in the property market?

Well…my suggestion is not to even try and pick the bottom, because even the smartest economists armed with all the data can’t do that.

Instead, if you’re a home buyer or property investor and you have your finance organised, now is an ideal time to purchase your next property counter-cyclically knowing your downside is minimised and your upside is maximised.

However, here are some of indicators the research team at Metropole watch carefully looking for a signal that the market could be turning.