Real estate is set to resume growth in August, as global market turmoil continues to weigh on the global economy, economists say.
The latest report by the International Monetary Fund (IMF) said that global real estate market growth accelerated in August and that global investment rose by a robust 3.4%.
The IMF expects real estate to grow by 5.6% in the fourth quarter.
In Australia, home sales are set to rise by 2.4% in August.
Australia’s economy is still expected to grow at around 1.9% in 2017, which would be a record for the country.
In China, growth is expected to be around 1% in 2018.
In India, growth will be around 2.3% in 2019.
In August, the Australian dollar fell by more than 50% against the dollar, but the Australian stock market returned to its highs.
Australian property markets are expected to rebound this year, said Richard Murphy, chief economist at ANZ Bank.
“This year’s market will likely return to a growth trajectory consistent with the prior year,” he said.
“With a number of factors contributing to the continued global economic slowdown, there is a good chance that Australia will be back on the path to growth in the second half of this year.”
He said the global financial crisis is “certainly weighing” on Australian property market growth.
“There is an additional impact of the financial crisis on housing and the housing market in Australia,” Murphy said.
In China, the Chinese government said it is “very concerned” about the global economic situation and that it is taking measures to help the country recover.
China is facing its own crisis, with the government cutting off foreign investment and cutting down on imports.
In August, China’s central bank cut interest rates for the first time in six years.
China’s economy has been shrinking, but its government has been saying that it would do whatever it can to reverse the trend.
China’s central government is looking to boost domestic consumption, which accounts for more than 80% of its gross domestic product.
The country has been expanding a raft of measures to stimulate its economy, including tax cuts, spending on infrastructure, and loosening regulations.
In the US, the Dow Jones industrial average closed up 0.7% in early trading, hitting a record high of 17,921.93.
US stocks were led by the tech giant Apple, which gained about 4%.
The Nasdaq also gained about 2%.US stocks were on track to open up 2% on Wednesday after the CBOE Volatility Index edged down to record lows.
The dollar dropped against the yen, hitting ¥1,769.88.
The euro hit $1.1745, down from the $1,1942 level it hit on Wednesday.
The pound fell to $1:1.0432 from $1/US$.
The Australian dollar was at $US1.1238, up from $US$1.1139 a month ago.
In Hong Kong, the main currency, the Hong Kong dollar slipped against the greenback to HK$1,062.90.
The greenback rose to HKD1,569.93, up 0,3% on the previous session.
In Australia, the Reserve Bank of Australia (RBA) said it would start buying government bonds from the government on Monday.
It also announced it would introduce new restrictions on interest rates on Wednesday and next month.
Australia’s central banker said the policy decision would support the economic recovery.
“The policy decision reflects the RBA’s expectation that a strong economy is on track, and that interest rates will remain low and inflation will remain subdued, with some support for the outlook in the longer term,” RBA Governor Glenn Stevens said.
The Reserve Bank has also increased the amount of interest it can lend to households and businesses to a record $3.6 trillion, which is up from the previous policy level of $2.9 trillion.
It has also cut the size of its balance sheet.