PHOTO: Despite this lack of faith from economists, consumer sentiment is on the uptick.
There’s an increasing number of consumers who think now is a good time to buy property, however Finder.com.au’s RBA Cash Rate Survey found experts and economists weren’t so sure.
In April 2019, nearly 60 per cent of experts reported positive sentiment about housing affordability in Australia, however that number has now dropped to 17 per cent.
Graham Cooke, insights manager at Finder, said economists clearly haven’t been persuaded by this year’s three RBA rate cuts when it comes to housing.
“Housing affordability cuts both ways. When it is high or economists feel positive, property prices can be relatively low meaning more Aussies have a chance to buy,” Cooke said.
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