The contracting market probably acts in much similar fashion to other markets. The bottom of the market is usually characterised by it being out of fashion, not being spoken of much and certainly not in the news or on anyone's radar. Those in the market at that time are quietly speculating and accumulating, perhaps waiting for better days for the market.
The top of the market can often be characterised by an large influx of new, perhaps mostly naive, entrants. Look, for example, at the property market over the past 3 or 4 years. In this phase the market is constantly in the news or on peoples' minds, and attracts a great deal of attention, some unwanted. This is when the smart money moves on, handing over to the naivety of the new players.
It appears that we are now receiving a greater number of enquiries from wannabe contractors, which may indeed surmise the top of the contracting market - for now. Experienced contractors will be able to ride out the ensuing lull, financially and in terms of experience. New or prospective contractors should look at their gameplan and make sure they have a back up option in place.
The top of the market can often be characterised by an large influx of new, perhaps mostly naive, entrants. Look, for example, at the property market over the past 3 or 4 years. In this phase the market is constantly in the news or on peoples' minds, and attracts a great deal of attention, some unwanted. This is when the smart money moves on, handing over to the naivety of the new players.
It appears that we are now receiving a greater number of enquiries from wannabe contractors, which may indeed surmise the top of the contracting market - for now. Experienced contractors will be able to ride out the ensuing lull, financially and in terms of experience. New or prospective contractors should look at their gameplan and make sure they have a back up option in place.
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