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The Tides have turned in Pittwater!!
Tuesday, March 30, 2010
Following a fairly ordinary local real estate market in 2009, we have observed the tides of the local real estate market turn with buyers in the price range under $1,500,000 struggling to find properties to purchase. Towards the end of March 2010 Patterson Morton sold almost 60% of available stock in a 2 weeks period leaving a number of buyers now looking for rental accomodation until new stock appears on the market. In the face of a rising interest rate environment we have seen increased demand to a level not seen since 2006 before the Global Financial crises. The best advise we can provide in this climate for buyers is to assure they provide accurate and up to date requirement information to the main agents they are talking with.
- Alan Morton