The pitfalls of trying to pick when the property market has peaked

in the medium term, but experts warn potential buyers not to focus on trying to pinpoint the bottom of the market.to be in a position to buy would be better served trying to purchase the best quality home they can afford, regardless of whether prices are going up or down, giving them an in-demand product once it comes time to sell, buyers agents say.

Several economists expect the cash rate could rise as early as the second half of this year, or in 2023, and forecast property prices could rise gradually until that point and then dip modestly, perhaps by single digits.Any fall would be eagerly anticipated by home-buying hopefuls who have watched prices soar to record levels over the past year. Home values have risen 25.5 per cent in Sydney over the 12 months to January, 14.9 per cent in Melbourne, and 22.

Mr Harvey adds a vote for buying a home that will grow with a growing family, or a low-maintenance property for a downsizer. Avoid homes on a noisy main road or next to a petrol station, he said. And what of the opposite risk: purchasing at the top of the market on a low deposit and being forced to sell shortly after into a falling market due to unforeseen hardship such as divorce or job loss?

The inevitable interest rate increases will ensure that guessing game will be near impossible to predict.

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