Consumer sentiment surged 11.9 per cent following a popular Budget according to Westpac.
Meanwhile for property, says Westpac, confidence has boomed:
"Confidence in the housing market has boomed.
The ‘time
to buy a dwelling’ index increased 10.6% to its highest
level since September 2019.
As with the overall Index the
result for NSW (now 120.4) was outstanding with an 11.3%
rise compared to 7.0% in Victoria (now 118.0) and 4.4% in
Queensland (now 118.6).
The levels of the index in each of these eastern states are
comparable, indicating a high degree of expectation that
the Victorian market is set to reopen."
Here's the table:
Source: Westpac
Victoria is an interesting case.
While mobility in most states is returning gradually towards normal, in Victoria this is nowhere near yet being the case.
Source: James Foster
Westpac described the survey as "an extraordinary result", with consumer confidence lifting by 32 per cent in only the past two months.
Source: Westpac
Consumer sentiment is now at the highest level since July 2018.
