When property prices are on the rise, the commonly asked questions are usually based around how long can this bull run last?; are we in a bubble?; or have prices become disconnected from reality?
All are fair questions. However what is really interesting is the fact that these questions tend to float to the surface of the media precisely at the end of a property cycle. Property cycles are a historic part of the property market, here in NZ and globally. These cycles tend to last around 5 years and represent periods of either stagnant growth, accelerated growth and in some case declines.
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