From Westpac’s Red Book:
― The ‘time to buy a dwelling’ index has continued to track lower, down 4.5% since Jan. At 96.3, the Apr read is nearly 25% below the long run average.
― As with sentiment overall, the Apr month saw a wide range of sub-group moves. In most cases this was in line with the group’s sentiment shift: strong gains for renters, Qld and WA but large falls for those with a mortgage and freehold owners. There were some notable exceptions though: buyer sentiment fell more heavily in Vic (last month’s boost from state government measures reversing completely) and showed more muted moves for older age groups compared to sentiment overall.
