Consumer confidence has now fallen by 9.7 per cent over the last two months, with the largest dips recorded in Victoria and Western Australia, as house prices soar and Victoria’s lockdown induces uncertainty.
MacroBusiness
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Via Bill Evans:
The Index is now just 0.2 points below the December level which was a ten-year high. The main factors driving the Index are improving economic conditions and prospects, both domestically and abroad, particularly as they relate to our labour market.
Australia’s success in containing COVID-19, the promise of vaccine rollouts bringing an end to the pandemic, and support from stimulatory government policies have all contributed to the sustained lift.
However, the survey shows evidence of tensions emerging in the housing market.
Every quarter, the survey includes additional questions around news recall that give a clearer indication of the topics influencing sentiment. Responses this quarter indicate that positive news around the economy, jobs and budget/tax policy have been most influential.
Rising house prices temper buyer interest: Westpac mortgagebusiness.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mortgagebusiness.com.au Daily Mail and Mail on Sunday newspapers.