PHOTO: The good news is that more homebuyers believe that now is a good time to buy a home

In the latest March quarter survey only 8.8 per cent of respondents thought the ‘wisest’ place to put new savings was in ‘real estate’ – a record 46-year low.

The ‘wisest’ place for savings remains bank deposits (28.8 per cent of respondents) from ‘pay debt’ (26.3 per cent).

Consumer confidence: The Westpac/Melbourne Institute survey of consumer sentiment index fell by 4.8 per cent to 98.8 in March after rising by 4.3 per cent to 103.8 points in February.

The sentiment index is back below its long-term average of 101.3.The consumer confidence figures have implications for retailers, and other consumer-focused businesses.

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