A property cycle can be seen as a logical sequence of recurrent events reflected in demographic, economic and emotional factors that affect supply and demand for property subsequently influencing the property market.
The first recorded pioneer of studying property cycles was Homer Hoyt (1895–1984) in 100 years of real estate values in Chicago (1933). It is widely recognised that property (along with other forms of investment) follows a predictable cycle. The property cycle has three recognised recurring phases of boom, slump, and recovery. The cycle follows a consistent pattern which can be accurately assessed by following the trends of a collective basket of Key Driver (as outlined below).
Read more about Property Cycle: Property Cycle Phases
Famous quotes containing the words property and/or cycle:
“Crimes increase as education, opportunity, and property decrease. Whatever spreads ignorance, poverty and, discontent causes crime.... Criminals have their own responsibility, their own share of guilt, but they are merely the hand.... Whoever interferes with equal rights and equal opportunities is in some ... real degree, responsible for the crimes committed in the community.”
—Rutherford Birchard Hayes (1822–1893)
“Only mediocrities progress. An artist revolves in a cycle of masterpieces, the first of which is no less perfect than the last.”
—Oscar Wilde (1854–1900)