The latest consumer sentiment data arrived yesterday from Westpac and the Melbourne Institute. The reading of consumer confidence fell for the fourth consecutive month and moved below the 100 mark where optimists and pessimists are equally balanced. With a reading of 99.5, the index is virtually at a neutral setting but more than 10 index [...]
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Is now a good time to buy a property or home? 74% of respondents believe now is a good time to be buying property. While the results show the vast majority of those surveyed think the timing to purchase a home is good, the results are a reduction from our May 2013 results where 80% [...]
The Reserve Bank’s monetary policy settings are working. Dwelling values are rising, as should be expected when mortgage rates are at historic lows. But arguably what is more important is that the renewed level of housing market confidence is showing up in improved development activity and demand for new homes. This is exactly what the [...]
As the housing market recovery continues in a fairly sedate manner, I thought it would be interesting to compare some of the key housing market metrics that we follow to observe the differences in the current market recovery compared with market conditions back in 2009/10 which was the previous recovery/growth phase post GFC. The analysis [...]
RP Data, together with Nine Rewards, released an update to their housing market sentiment survey this week. The headline findings showed that housing market sentiment was substantially higher than what it was six months ago, but virtually unchanged from earlier in the year. The survey was conducted across 1,030 respondents who were located across the [...]
Consumers more optimistic about Australia’s housing markets in 2013 Last week Nine Rewards and RP Data undertook our second housing market sentiment survey. The first survey was in October last year and we intend to run the survey every three months. The results were stronger than I expected, in the sense that only a very [...]
The confidence level amongst Australian consumers (as measured by the Westpac-Melbourne Institute Consumer Sentiment Index) has been on an upwards trend since April this year, and over November the Index recorded a sharp rise to reach the highest level since April 2011. An easy way to interpret the index is when the reading is over [...]
With the low CPI reading earlier this week, a drop in the cash rate next Tuesday is pretty much a done deal. The question is now will the RBA cut the cash rate by 25 or 50 basis points? According to financial market expectations (based on the ASX cash rate futures yield curve), the cash rate [...]
We’ve just updated our month to month models for transaction volumes and the results for Queensland are certainly interesting. Most Queenslanders would be aware of the stamp duty changes that were brought in with the latest Budget announcement earlier in the year: from the first of August owner occupiers would no longer benefit from stamp [...]
The relationship between consumer confidence and housing market activity is a topic that we often comment on in relation to the housing market. The importance of a positive consumer mindset is simple; for a prospective buyer to make a high commitment purchase decision like buying a home they need to have a base line level [...]
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