Property Investment 101: When average rent moves upwards, what is happening in the market? Oversupply?

Two weeks ago, I was asked again about the state of the property market. As usual, if it’s someone I do not really want to spend my time in explaining, I just say I have no idea but I will definitely be looking at the property market for my next property. The person said, “but there’s an oversupply!” I just smiled and said, it’s okay. It’s just about managing the risk and to buy after sufficient due diligence. I do not think the person agreed but WHO CARES? Haha.