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Housing sentiment slumps as costs rise: Westpac


Mortgage Business
Housing sentiment slumps as costs rise: Westpac
By Malavika Santhebennur
24 May 2021
Home buyers increasingly believe that now is not the “time to buy” property as deteriorating affordability issues weigh on their minds, according to new research.
The Westpac-Melbourne Institute Index of Consumer Sentiment has revealed that the “time to buy a dwelling” index fell by 3.4 per cent from 107.2 in April 2021 to 103.5 in May 2021.
According to the research, this is now 21.6 per cent below its recent peak in November 2020, and 15.7 points below its long-run average.
The research also showed that Victoria recorded a 20 per cent fall in the index in May, which Westpac chief economist Bill Evans called “disturbing”. ....

Malavika Santhebennur , Bill Evans , Melbourne Institute Index Of Consumer Sentiment , Westpac Melbourne Institute Index , Consumer Sentiment , South Australia , Western Australia , Reserve Bank , Money Management , மாலவிகா சந்தெபெண்னுர் , ர சி து எவன்ஸ் , மெல்போர்ன் நிறுவனம் குறியீட்டு ஆஃப் நுகர்வோர் உணர்வு , வெஸ்ட்பேக் மெல்போர்ன் நிறுவனம் குறியீட்டு , நுகர்வோர் உணர்வு , தெற்கு ஆஸ்திரேலியா , மேற்கு ஆஸ்திரேலியா , இருப்பு வங்கி , பணம் மேலாண்மை ,

Retail sales smash March expectations


Retail sales smash March expectations
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The highest consumer confidence in 11 years has helped drive a 1.4 per cent jump in seasonally adjusted retail sales, more than twice what some big bank economists forecast.
Preliminary data from the Australian Bureau of Statistics showed consumers spent $30.7 billion in March with big rises in Victoria, up 4 per cent, and Western Australia, up 5.5 per cent, as both states rebounded from COVID-19 lockdown restrictions in February.
Annual retail sales rose 2.3 per cent in March compared to March 2020 when COVID-19 restrictions were introduced, leading to a spike in sales in food retailing that month.
We think consumer confidence and record household savings will fuel demand, with increased spend on out-of-home experiences. ....

Sam Koch , Alan Oster , Melbourne Institute Index Of Consumer Sentiment , Commonwealth Bank March Household Spending Intentions , Asset Management , Western Australia , March Household Spending Intentions , Westpac Melbourne Institute Index , Consumer Sentiment , சாம் கோச் , ஆலன் ஒஸ்டேர் , மெல்போர்ன் நிறுவனம் குறியீட்டு ஆஃப் நுகர்வோர் உணர்வு , சொத்து மேலாண்மை , மேற்கு ஆஸ்திரேலியா , வெஸ்ட்பேக் மெல்போர்ன் நிறுவனம் குறியீட்டு , நுகர்வோர் உணர்வு ,