Confidence in Australian real estate has dropped to its weakest level in over 40 years, with just 10.5 per cent of people now seeing property as the wisest place to put savings.
Overall consumer sentiment ticked 2.5 per cent higher in September but pessimists outnumber optimists for the tenth consecutive month, despite the Australian economy now notching up 26 years of unbroken GDP growth, according to the Westpac-Melbourne Institute consumer sentiment report for September.
The Bank’s half-yearly financial stability review, released on Thursday, also took aim at the noticeable rise in investor credit and investor loans, stating a decline could consumption reducing sharply. Photo: Viki Lascaris
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