Australian Consumer Confidence rises across the board | ANZ-Roy Morgan Research


A new financial year seems to have brought with it a new wave of confidence in Australian consumers. consumer confidence up property imvestment

Consumer confidence is one of the indexes I follow closely as it has a significant bearing on our housing markets.

ANZ-Roy Morgan Australian Consumer Confidence bounced 2.4% to 114.5 this week, bringing the index to its highest point since early April and above the long-run average.

The rise in confidence was broad based, with all sub-indices posting gains.

  • The volatility in households’ views around current financial conditions continues, with the sub index rising 3.8% last week. Consumers were less optimistic about future financial conditions. This sub index rose 0.8% last week, only partially offsetting the 1.7% decline in the previous week.
  • Confidence around both current and future economic conditions rose solidly (+3.7% and +3.0% respectively). The current economic conditions sub index now sits at its highest point since mid-March.
  • The ‘time to buy a major household item’ sub-index rose 1.3% last week following a 1.8% fall in the previous week.
  • Inflation expectations remain unchanged at 4.2% on a four-week moving average basis.

ANZ’s Head of Australian Economics, David Plank, commented:

“The improvement in sentiment across the board last week is quite encouraging. The rise in confidence likely reflects ongoing strength in the labour market and appears to have outweighed consumers’ concerns about the rise in retail electricity prices.

“At today’s meeting, the RBA is likely to highlight the improvement in labour market conditions, in particular the fall in the unemployment rate to a four year low. The reduction in spare capacity is encouraging; however it remains high by historical standards.

In addition, there is some uncertainty about the drivers of the economy going forward given debt positions of households and a decline in housing construction. As well, we believe that wage growth will likely remain subdued through the year, delaying the return of core inflation to the RBA’s target band.

“Overall, the labour market will remain an important influence on confidence over the coming months. While we expect the pace of jobs growth to moderate – given that the official figures have largely caught up with survey measures such as ANZ Job Ads – a strengthening labour market should continue to broadly support confidence.”

ANZ Roya Morgan

ANZ Roya Morgan2

ANZ Roya Morgan3

ANZ Roya Morgan4



Subscribe & don’t miss a single episode of Michael Yardney’s podcast

Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.

Need help listening to Michael Yardney’s podcast from your phone or tablet?

We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.


Prefer to subscribe via email?

Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.


Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media. Visit

'Australian Consumer Confidence rises across the board | ANZ-Roy Morgan Research' have no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.


Copyright © Michael Yardney’s Property Investment Update Important Information
Content Marketing by GridConcepts