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Wednesday, 9 December 2020

Sentiment at decade high as Australia dodges COVID bullet

Sentiment rips

Westpac reported that consumer sentiment increased another 4.1 per cent to 112 in December, from 107 in November.

Sentiment has therefore ripped to a 10-year high, having increased by a stunning 48 per cent since April. 

Source: Westpac

Dwelling prices look set to follow higher in 2021, as charted by Alex Joiner of IFM.

Source: IFM

Indeed, house price expectations have ballooned another 9.4pc higher to 143.7, now having doubled since the lockdown lows. 

Source: Westpac

Job security

Indeed's Callam Pickering showed that job postings have now fully-recovered to pre-COVID levels, leaving Australians far more comfortable in terms of job security. 

Meanwhile household savings have ballooned following this year's unprecedented stimulus, and data from the NSW Land Registry showed a surge in mortgages being paid off in their entirety over the past three months, which should keep a lid on credit growth.

The ASX closed at a 9-month high today, with the CAPE ratio now back above 20 as Australia has dodged a major bullet this year.