SYDNEY -(Dow Jones)- Australian Securities and Investments Commission Chairman Tony D’Aloisio said Friday that he is concerned about the real estate sector as the global economic downturn continues.

Prices of luxury homes in Greater Victoria have plunged in the wake of an economic downturn that has taken a disproportionate toll on the top end of the real estate market.

The economic downturn has left many wondering where the real estate market stands in its wake. However, things may finally be starting to look up for the hard-hit market.

The economic downturn has left many wondering where the real estate market stands in its wake. However, things finally may be looking up for the hard-hit market.