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Wednesday, 10 June 2020

Confidence back to pre-pandemic levels

Consumers happier

An upbeat consumer confidence survey from Westpac.

Consumer confidence rose +6.3 per cent in June to 93.7 as the economy reopens:

Source: James Foster

Consumers have evidently been cheered by 11 consecutive days with no community transmission of COVID-19 in New South Wales, while many other states and territories have all but eradicated the virus.

House price expectations lifted +10.5 points in June, while the time to buy a dwelling index held up at a very solid 107.6.

Source: Westpac

A pretty remarkable recovery in confidence in June, with job security a key driver of expectations.

Housing finance was unsurprisingly flaccid in April, albeit far higher than a year earlier.