Business Research Assignment: Reflective Writing on Real Estate Prices

This assignment is a reflective writing piece based on a business research project focusing on the impact of rising real estate prices in Sydney, particularly on low-income groups. The reflection evaluates the effectiveness of the research, the usefulness of the learning experience, and provides an objective overview of the learning process. It discusses the insights gained regarding the socio-economic effects of unaffordable housing, including the rise of self-built housing with poor sanitation and the broader implications for the city's economy and living standards. The reflection also highlights how this learning experience will be applied in future research and real estate endeavors, emphasizing the practical knowledge gained and its relevance to understanding real estate dynamics.

BUSINESS RESEARCH
Assignment 3
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Table of Contents
Introduction................................................................................................................................3
Reflective Writing......................................................................................................................4
Conclusion..................................................................................................................................7
Reference List............................................................................................................................8
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Introduction
Learning experiences are important for an individual to address different challenges in the
learning course or in life generally. Self-reflection on the research project has been carried
out to study the impacts of rising prices in real estate in Sydney. This study provides in-depth
analysis of the above-mentioned report, and provides necessary conclusions gathered from
the report, after investigating the matter to its core. The entire study includes my reflection on
the matter and the report. I have tried to give my honest opinions about it and have mentioned
everything that I learned from it.
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Reflective Writing
1. Evaluate the effectiveness and your usefulness of the learning experience
The effectiveness of the report prepared on the impacts of price hike on the low income
groups present in Sydney is considerably high. The report includes all the necessary points
and consideration of important matters concerning the subject. The factors that are
contributing to the rise in prices in real estate are quite elaborately explained, this makes the
research project effective. My learning experience has been very enriching and I have been
able to gain crucial and informative insights about the condition of real estate in Australia. I
as a researcher have put lot of efforts in considering and investigating every factor and issue
in detail, which makes the report very high in quality. The approach of evaluating certain
issues concerning low-income groups and the differences that has been created due to the
affordability of houses in Australia has been well described. I have invested enough time in
preparing the research project; therefore going through this learning experience was highly
valuable. The learning experience has provided me with lot of important facts and
information about the current situation of socio-economic culture in Australia, which is
valuable enough to understand the economic and infrastructural aspects of the country.
2. Explain how this learning process will be useful to you
The learning experience has been fantastic and very enjoyable; I as a researcher I have put all
my efforts to prepare an informative and high in content report. I thoroughly enjoyed reading
the reports prepared on the impacts of real estate in the socio-economic culture of Australia.
The learning experience helped me to gather better insight about the continent and the
prevailing situation. This information gathered from this report is going to help me
understand factors that influence the rise of prices in real estate. This will be helpful in
understanding the real estate in my country or city. The report provided many facts and
information this will greatly help me in future. I think that report will help me a lot in my
future career, as I can use this information for carrying out another research projects. Things
learned while doing this research will come in handy for my other projects as well. Thus, this
experience will help me further enhance myself in my course. However, the insights and
statistics learned for this learning experience will go a long way in helping me understand the
real estate of any country, city or region. I can apply this knowledge about the real estate,
when I plan to buy or invest in any sort of real estate property in future.
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3. Describe objectively what happened in the learning process
In the learning process, I thoroughly went through the important points covered in the
research project to study everything that has been covered and mentioned in the report. The
report has been well structured and the approach used for investigating the matter very well
compliments the way the report has been prepared. This allowed to go through the entire
project very easily and read it in one go. In the learning process, I read everything that I have
mentioned in the report and observed that I have put all his blood and sweat to prepare the
research project. The main objective of the research project was to find the impacts on low-
income groups and their experiences as the prices have sky rocketed in the real estate, making
housing unaffordable for common people. Another important objective highlighted in the
research project was the way un-affordability of houses is influencing the socio-economic
culture of the city. The city is highly rich in diverse culture and attracts many people looking
for jobs. Unavailability of affordable housing is affecting the economy of the country as well.
All these facts and information was studied while going through the learning process.
4. Evaluate what you learn
The research project I carried out was about finding the impacts of price hike on real estate
taking place in Sydney. The impacts of this on socio-economic culture of the city and its
impact on the economy of the country were well investigated. This learning process helped
me to learn about the plight that people belonging to low-income group are facing. These
people are completely hopeless and forced to live in poor conditions. Due to this reason,
millions of people have choose to build their own houses on the outskirts of the city. As
people are choosing, self building process to construct their houses, therefore there is no
proper drainage system and sanitation methods. There is open garbage spread near their
houses, which is attracting several diseases. Elderly people and children are affected badly
due to this. The main reason for this prevailing condition is that there is no land available for
building affordable houses. Few years back, government had given housing development
projects to private companies and land was allotted to them. However, they choose to build
premium houses for high-income group and high cost homes. As the city, saw development
and expanded, the city attracted migrants from other cities of the country as well as from
other countries (Rogers et al., 2015). This increased the population exponentially and created
shortage of land, as the land became more and scarcer in the city the prices of the land
became more and more expensive, making housing unaffordable for low-income group
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(Gurran and Phibbs, 2015). People who are migrating to live in the city are finding great
difficulty in finding affordable houses.
5. Explain your learning process
The learning process was fantastic and I have gathered many new points about the factors
that influence the real estate industry. This is the reason I immensely enjoyed going through
the learning process and the whole time spent was an exciting learning journey. Analyzing
each factor and going through each point and matter required lot of time. Conducting the
entire research was stressful and pushed me to my limits. The real estate industry in Australia
is one of the largest sectors in Australia, having significant impact on the economy of the
country (Wong, 2017). While going through the entire process of preparing the research
project I could also link the matter with different connected matters. For example, if people
are finding difficulty in finding affordable houses, then they are probably going to choose to
build their houses on their own on government land wherever available. These houses will
have poor sanitation and drainage systems; may cause plague and other serious diseases in
the city. Therefore, unavailability of houses will push people to live in poor conditions,
thereby decreasing the standard of living of citizens in Sydney. Therefore, it can be
concluded that unavailability of affordable housing is a serious issue for the city and the
government need to take strict and quick decisions to tackle it (Ochieng et al., 2017).
6. Explain Plan how this learning you will applied
This learning process will help me to understand the real estate industry of Australia with
much better ease and expertise. This will allow me to have a better understanding of facts and
situation prevailing in the real estate industry of Australia. The learning process provided an
opportunity to consider and analyze the very crucial points and issues of real estate industry,
this way I have gained lot of practical knowledge. This would have otherwise never been
possible to learn so much in such less time. This learning process was like a fieldwork that I
did and the experience so gained can never be obtained by just reading a book or journal. The
learning will immensely help in my course and provide sufficient support carrying out future
research projects. While conducting future research on similar subject or even on topics
slightly connected with this one, I will be able to gather better insights and relate the
information with many other matters as well.
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Conclusion
After analysing the business research and going through the learning process, I have prepared
this report and reflected on the things I have learned from that experience. The learning
process helped me gain better insights about real estate and factors that influence the prices in
real estate. This learning experience will be very valuable for me in future, as it has provided
me a better perspective about the real estate industry. This experience will greatly help me
while buying any real estate property and even while making investments in real estate
industry.
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Reference List
Wong, A., 2017. Transnational real estate in Australia: new Chinese diaspora, media
representation and urban transformation in Sydney's Chinatown. International Journal of
Housing Policy, 17(1), pp.97-119.
Ochieng, D.E., Abdulai, R., Obeng-Odoom, F. and Malienė, V., 2017. Real estate,
construction and economic development in emerging market economies.
Rogers, D., Lee, C.L. and Yan, D., 2015. The politics of foreign investment in Australian
housing: Chinese investors, translocal sales agents and local resistance. Housing
Studies, 30(5), pp.730-748.
Gurran, N. and Phibbs, P., 2015. Are governments really interested in fixing the housing
problem? Policy capture and busy work in Australia. Housing studies, 30(5), pp.711-729.
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