Kamal Sehgal is an award winning Australian Real Estate Agent. Kamal Sehgal has extensive experience in business, sales, real estate and many other industries.

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2. Australian Real Estate: On the Recovery

3. Since the higher interest rates have been announced by the Reserve bank of
Australia in May this year, the in Australia has seen a decrease in the prices for
the residential property. Further, the investor confidence for the Australian for
sale is wavering. The in Australia has seen diminishing sales and this has
become the topic of hot debate in the media as well as the internet.
Real estate in Australia research firms such as Kamal Seghal have also
confirmed the softening of the in Australia prices. In August the average price
for the house has dropped and stood at $450,000. However the firms expect
that the softening of the prices would be for a limited time period only as the
fundamentals of the economy in Australia are on the upswing and it has
recovered from the recession that was widespread during 2020 - 21. Further
there is a shortage of supply for the Australian market and this will exert some
upward pressure for the prices to rise in the last quarter of 2022.

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5. Even though the prices were down in the third quarter of 2010 in all the eight
capital cities of Sydney, that include the financial capital Sydney and Canberra,
the prices are still up by about 8% since the previous year. Even though the
Reserve bank of Australia has increased the interest rates since the may this
year, experts are speculating that that the interest rates will increase by another
25 basis points. This can lead to further weakening of the prices unless there are
supply side curbs in the Australian market.

6. The government has also withdrawn the first home buyer grant and the home
approvals have significantly dropped by around 5% in August this year, as
compared to 2009. The first two quarters this year has seen a phenomenal
increase this year which started in the third quarter of 2020. The jump in in
Australia was around 15% after adjusting for inflation and seasonal terms. The
interest rates have been hiked to prevent the real state crash that has prevailed
over Europe and the US real markets.

7. The Australian rentals have dropped quite staggeringly this year and now stand
around 4.3% as compared to about 8% in 2022. The Australian rentals even in
Sydney are quite low and in line with the international rentals this year.

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