Australia Westpac Consumer Sentiment rose 2.5% to 107.7 in November, up from 105.0. The index is now 35.3% above it’s level in August, and 13% above the six-month average prior to the pandemic in March. Further, it’s a seven year high, strongest reading since November 2013.
Westpac said the main message from this survey is the encouraging optimism which is building around the outlook for the housing market. The boost from record low interest rates is clearly over-riding negatives around high unemployment; the overhang of deferred loans; the prospect of withdrawal of significant fiscal support; slow population growth; and rising vacancy rates.
