02 September 2013 Consumer sentiment stronger as housing finance increases


Gross spending on housing finance has increased by 17.1 per cent, according to the PRDnationwide Research Quarterly Economic Property Report.

The report, which shows data on core economic, demographic and property indicators, revealed the gross spend on housing finance during May 2013 was $23.4 billion. Investor spending reached $8.4 billion compared to the previous year – an increase of $1.9 billion.

Meanwhile, the report showed consumer sentiment had increased by 6.9 per cent over the past year, based on data from the Australian Consumer Sentiment Index.

Optimism rose from a low of 97.6 points in May, to become more prevalent in June at 104.0 points. May’s low score was the first time in six months that pessimists outweighed optimists, according to the report.

Despite the lowest index score of 96.2 points, consumer sentiment increased the most in Queensland – up 12.8 per cent.

This was followed by Victoria at 9.2 per cent, while New South Wales was the only state to experience a decline in sentiment, falling by 1.4 per cent.

Optimism is highest in Western Australia, with a score of 112.1 points.

Reproduced in full with permission: Smart Property Investment Consumer sentiment stronger as housing finance increases 24 July 2013

Attention: This article is intended to provide general information only. Every attempt has been made to ensure the accuracy of this information at the date of publication. The opinions expressed in this article do not reflect those of DHA, its staff or agents. Property prices are subject to fluctuation. Prospective investors should seek independent advice. DHA will not be liable for any loss, damage, cost or expenses incurred or arising by reason of any person relying on information in this article.

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