PHOTO: Only 12.8 per cent of the 1200-people surveyed by Westpac and The Melbourne Institute report nominated real estate as the wisest place for savings. Photo: Jessica Shapiro,
Almost two-thirds of Australians are paying down debt or parking savings in low interest-rate bank deposits rather than buying property or investing in the sharemarket, a recent consumer sentiment survey shows.
The latest Westpac-Melbourne Institute report, which surveyed 1200 people nationally in December, showed only 12.8 per cent nominated real estate as the wisest place for savings, while 8 per cent nominated shares.
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