Property Market Downturn Over the first quarter of (84) year, there has only been $50 million of turnover in the local real estate market. This compares unfavorably with the $90 million recorded at the same time last year. Beverley Hauritz, the chair of the Professional Realty Association, told reporters that she was not surprised by the figures, which she believes are a result of the global financial crisis. (85) , she is anticipating an even bigger decrease next quarter, as investors look to reduce spending even further. Although there has been talk among (86) that property prices may continue falling throughout the rest of the year, Ms. Hauritz remains confident that the property market will begin to pick up again in the future. Her prediction is that prices will return to their previous levels by the end of the year. (44)