Property prices in most parts of Australia are undergoing correction. It is not just inflation triggered interest rate hikes, the new federal government’s policy of removing negative gearing is having a big effect on reducing investor’s appetite. The result is a withdrawal of property investment. This left only first time buyers in the market. Sellers obviously don’t want to sell to this group as they don’t have the money to pay the asking prices. Sales collapse. Inflation from oil prices hike and removal of government fuel prices subsides is not helping. Central bank might have no choice but to raise interest rate again. Australian inflation has stayed stubbornly high compared to those seen in Singapore. Banks are no doubt benefiting from rates hikes however with less property transactions taking place, they are getting less attractive as well. Precious metals are perhaps the better place to be, with fiat currencies increasingly weakening over time. Utilities might be another option.