Todd Polke on Australia's real estate market: supply is the core problem, higher interest rates are helping address it, and demand is bouncing back through immigration and returning international students from China.
Supply is the problem for Australia. And at the moment it's being dealt with through higher interest rates, but we are seeing a real challenge unfold for people perhaps uninvested or who haven't invested enough in real estate. So demand is obviously returning. A lot of that has come through immigration, just Yesterday I saw in the newspaper, you know, the Chinese government had avoided anyone doing a degree around the world. They can't do it online anymore, so they need to come back to major universities. So again, we're starting to see Australia's demand return to a more normal level, obviously disrupted during the pandemic era.
