Bryan Kavanagh's modification of the Hoyt-Harrison-George Economic Cycle
"The 18 year cycle is based upon the Homer Hoyt/Fred Harrison model - and it is an excellent one. However, rather than producing this as catechism, we need to continue the research. For example, my analysis of *the whole of the Australian property market* since 1972 (see attachment) which removes the effects of local and regional phenomena, and which permits analysis against national GDP figures, shows that the 18 year cycle may be as few as *16* years, and that there is indeed an intermediate lesser cycle of 8 to 9 years duration. The 16/18 year cycle is certainly the big one, being inclusive of booms in residential, commercial, industrial and rural markets. The intermediate cycle is preponderantly a residential one - which is not to belittle it excessively, because 75% of all land values are residential in Australia, the other 25% being rural/industrial/commercial."

Bryan Kavanagh's modification of the Hoyt-Harrison-George Economic Cycle
"The 18 year cycle is based upon the Homer Hoyt/Fred Harrison model - and it is an excellent one. However, rather than producing this as catechism, we need to continue the research. For example, my analysis of *the whole of the Australian property market* since 1972 (see attachment) which removes the effects of local and regional phenomena, and which permits analysis against national GDP figures, shows that the 18 year cycle may be as few as *16* years, and that there is indeed an intermediate lesser cycle of 8 to 9 years duration. The 16/18 year cycle is certainly the big one, being inclusive of booms in residential, commercial, industrial and rural markets. The intermediate cycle is preponderantly a residential one - which is not to belittle it excessively, because 75% of all land values are residential in Australia, the other 25% being rural/industrial/commercial."