Not that we needed another survey to tell us, but the Melbourne Institute Westpac quarterly Consumer House Price Expectations Index is sinking.
According to the index, a majority of the house-loving Australian population remains convinced that price rises are ahead. But the number of realists (strangely, Westpac refers to them as “pessimists”!) is rising fast:
Also interesting, housing as an investment is theatening to plumb all time lows, which doesn’t really sit well with the rest of the survey, given the number of optimists still at large:
Perhaps the truth hurst so much we can only face it in an oblique way. Full report below: