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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.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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