How things have changed! Australian’s believe now is the best “time to buy a dwelling” since November 2013, based on the latest Westpac Melbourne Institute survey.
Those who completed the survey are actually conservative based on two key factors:
- Debt serviceability is actually at the best it has been at for 19 years since 2001.
- Interest repayments as a share of residential mortgages are the lowest that they have been since March 2002.
The index also shows consumer confidence at its strongest point in 7 years. A sure sign of the powerful combination of huge stimulus, first time buyer grants, and Covid containment, alongside the first positive outcome of a vaccine.