The 18 year property cycle is divided into four main phases: expansion, peak, recession, and recovery.

1. Expansion phase: This is the initial phase of the property cycle, where the market is starting to pick up. Property prices are rising, and there is a high demand for properties. During this phase, it is a good time to invest in property as it is a buyer's market, and prices are relatively low.

2. Peak phase: The peak phase is the point in the cycle where the market reaches its highest point. Property prices are at their highest, and there is a high demand for properties. However, during this phase, it is not recommended to invest in property as prices are at their peak and may not have much room for growth.

3. Recession phase: This is the phase where the market starts to slow down. Property prices are dropping, and there is a low demand for properties. During this phase, it is not recommended to invest in property as prices are at their lowest and may not have much room for growth.

4. Recovery phase: The recovery phase is the point in the cycle where the market starts to pick up again. Property prices are starting to rise, and there is a steady demand for properties. During this phase, it is a good time to invest in property as prices are relatively low and have room for growth.

The best time to invest in property is during the expansion and recovery phases, when prices are relatively low, and there is room for growth. However, it is important to keep in mind that the 18-year property cycle is not a fixed rule and can vary depending on the location and economic conditions. Therefore, it's always advisable to consult with a professional for better understanding of the property cycle in the area you are willing to invest in.