Household saving ratios have been high since the financial crisis, but data out today from the Australian Bureau of Statistics showed that at last people may be gradually opening their wallets again.
Sill elevated, as compared to the levels seen over the last two decades, but low interest rates should see Aussies starting to loose the purse strings a bit.
A good thing or a bad thing?
A great thing for the economy.
And for housing prices? Well, we'll get an oversupply in pockets, of course.
The third chart below on household finance shows the first signs that household debt levels as a percentage of disposable income - which have been flat or falling slightly for the last 9 years - may again be turning up, just a slight notch.
It's property market boomtime.
Prices are heading sharply upwards in all major capital cities except for Adelaide.
In our estimation the cost of production was too high for this to be otherwise, and only now are we at last seeing any meaningful supply response.
With share markets driving up to a 6 year high today, Aussies' net worth is now in a pleasing uptrend, while household debt levels have been flat for around a decade, which is good news for Aussie households.