Table 1 Amplitude and duration of the... | Emerald Publishing

Table 1

Amplitude and duration of the six phases of the three sequential honeycomb cycles (1976–1988; 1988–2001; 2001–2019)

Sequential Honeycomb cycles	Turning points
Sequential Honeycomb cycles	Phase 1	Phase 2	Phase 3	Phase 4	Phase 5	Phase 6
HC Cycle 1 (12 years)	1976–1980	1981	not detected	1982–1984	1985–1986	1987
Duration (years)	5	1	0	3	2	1
Transaction growth	32.4%	−4.0%	–	−37.5%	20.7%	0%
House price growth	6.6%	8.8%	–	−17.3%	−11.1%	−0.7%
Price bubble (initial/final year)	S	1981		1983
HC Cycle 2 (12 years)	1988–1991	1992	not detected	1993–1996	not detected	1997–1999
Duration (years)	4	1	0	4	0	3
Transaction growth	20.2%	−16.3%	–	−5.3%	–	24.8%
House price growth	40.0%	10.1%	–	−9.6%	–	−1.0%
Price bubble (initial/final year)	1989					1997
HC Cycle 3(20 years)	2000–2003	2004–2007	2008–2011	2012–2013	2014–2015	2016–2019
Duration (years)	4	4	4	2	2	4
Transaction growth	49.0%	−13.3%	−26.9%	−28.1%	8.5%	38.2%
House price growth	18.0%	16.6%	−1.4%	−12.6%	−8.0%	−0.3%
Price bubble (initial/final year)		2004		2013

SequentialHoneycomb cycles	Turning points
SequentialHoneycomb cycles	Phase 1	Phase 2	Phase 3	Phase 4	Phase 5	Phase 6
HC Cycle 1 (12 years)	1976–1980	1981	not detected	1982–1984	1985–1986	1987
Duration (years)	5	1	0	3	2	1
Transaction growth	32.4%	−4.0%	–	−37.5%	20.7%	0%
House price growth	6.6%	8.8%	–	−17.3%	−11.1%	−0.7%
Price bubble (initial/final year)	S	1981		1983
HC Cycle 2 (12 years)	1988–1991	1992	not detected	1993–1996	not detected	1997–1999
Duration (years)	4	1	0	4	0	3
Transaction growth	20.2%	−16.3%	–	−5.3%	–	24.8%
House price growth	40.0%	10.1%	–	−9.6%	–	−1.0%
Price bubble (initial/final year)	1989					1997
HC Cycle 3(20 years)	2000–2003	2004–2007	2008–2011	2012–2013	2014–2015	2016–2019
Duration (years)	4	4	4	2	2	4
Transaction growth	49.0%	−13.3%	−26.9%	−28.1%	8.5%	38.2%
House price growth	18.0%	16.6%	−1.4%	−12.6%	−8.0%	−0.3%
Price bubble (initial/final year)		2004		2013