I've been asked his day in day out for the last 10 years.. the simple answer is.. there is no answer..

People have been 2nd guessing the market for years, some getting it right, some selling their houses and going into rented then not being able to buy the house they used to have as it has gone up so much!

I can see possibily we will become like parts of Europe like Germany and Switzland where most people rent untill they inherit or become well off enough to buy. Lets face it with people getting interest free mortgages etc Your pretty much renting anyway.. untill it goes up in value and you have some equity but even then you still have to cover moving costs if you want to sell.