News Archive
A balanced market in 2011.
06 April 2011
Finally after 5 years of persistence are we starting to see the emergence of balanced property market in Pittwater. Prices at all levels have adjusted over the past 3 years in particular with few sectors seeing increases and some sectors incurring significant drops in value from 2006 levels. The winners are those who purchased prior to 2006 or more recently as they have seen gains and cert... read news item »
The Tides have turned in Pittwater!!
30 March 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 acc... read news item »
Mixed Markets
10 August 2009
After 15 years of trading as real estate agents in the Pittwater area, we have to say that 2009 is both a complex and challenging year for both vendors and agents. As we have all read, the first home buyers have been keen to purchase property and take advantage of the generous “donation” in the form of the first home buyers grant and stamp duty exemptions. In most cases,... read news item »
The 3 Moons of Real Estate
28 November 2008
At the time we write this report we can see what we call the “3 moons of real estate" coming into alignment . The first moon is home interest rates which are expected to dip further and reach their lowest level in the first half of next year. The second moon is rents, which have been rising for about 2 years now, due to the shrinking supply of property inve... read news item »
Market Update - September 2008
24 September 2008
Since opening our first real estate office in Mona Vale in 1994, we have not seen such turbulent conditions in the Sydney, and in particular Northern Beaches property market. In 1994 there were approx 13 real estate agencies located in Mona Vale and by February 1st 1995 only 8 remained. This was a direct result of the slowing of the market with extended sales times for properties and a general lo... read news item »
Interest rates bite!
25 July 2008
There is no doubt that the more recent series of interest rate hikes in our Australian market have created a number of effects on the local property market. What many potential buyers are discovering are that the banks are generally more cautious to whom they will lend money. It is generally taking ( despite promises of quick answers from the banks) a lot longer to get the final answe... read news item »
We live in interesting times!
25 July 2008
Welcome to the winter 2008 edition of the Patterson Morton real estate property report . Since our last report there have been significant changes in the direction of the real estate markets around Australia and indeed, further changes are expected over the coming 6-12 months. Over the past few months the deterioration and upheaval of the U.S. financial markets and U.S. real estate mark... read news item »
Industry Advertising Survey in 2007
25 July 2008
A very interesting survey of 301 real estate agents across Australia in 2007 found…... Based on the findings of a industry survey in 2007 that across Australia the advertising of property via Internet is now the most powerful medium of advertising has resulted in Patterson Morton investing approx $100,000 over the next 2 years to upgrade our internet presence . &n... read news item »
The emergence of electronic marketing in real estate.
03 June 2008
In a recent survey of 301 real estate agents around Australia late last year, it was found that over 40% of all sales enquiry came from internet related sources. In opposition was the long established media at a sliding 27%. The next was the old faithful agents database of potential buyers in at approx 24%. The signboard was last at around 9% but still an essential ingredient in the recipe of mar... read news item »