When is the selling/buying peak

As I continue to walk around and gaze at the vacant blocks as well as half built or renovated homes, I wonder if a peak in the market has been reached, or will real estate keep increasing in value.  There is a big delay from start to finish of this upgrading/building/renovating dream.  My next thought is, when is the top of the curve?  Sooner or later?  There is a lot of homework to be done before committing to such a big project, for example:

1. Will we/I need to sell or get out of the existing residence to increase equity/reduce my borrowings.

2. Is it likely Mum/Dad will offer accommodation for a few months while we realise some of our equity. If not, how much extra cash will be outgoing for rent?

3. I am noticing that once the initial purchase of land/house has been finalised things seem to slow down a lot; probably because it takes time to consider/finalise Council approval, surveys, finance and so on.

4. The real things have to be weighed up, ie: exactly what to do to firm up the plans, when will the home loan interest rates rise, and how much will the rise affect the mortgage repayments, will all the required building materials be available when needed, what percentage cost increase will apply once the contract is ready for signature, approximately how long will it take to finish the build and get things profitable again. 

The pressure seems to be on once the builder actually gets started and that is the time all these little details have to be sorted out, eg the colours, the cupboards, the lighting, the styling for the bathrooms, making compromises if the materials are in short supply, or if it is decided to change the position of a power point, window or even a doorway.

One vital thing is to know if the builder/contractor is solid and will finish off the work to your satisfaction without a hitch.