[video] Westpac Economic Update: Bill Evans. It’s not all good news for property!

Westpac Chief Economist Bill Evans comments on labour market data in the US and Australia, the Westpac Consumer Sentiment Survey, housing approvals, as well sharing his insights in the movement of the Australian currency and interest rates.

If you’re interested in property investment these macroeconomic factors will be important for you to understand the factors likely to influence our economy, employment levels, consumer sentiment  and our confidence in buying real estate.

As you will see – it’s not all good news

As you watch the video below you’ll hear how job growth has been disappointing (in fact non existent) and how the latest consumer sentiment index fell in January (the 2nd month in a row).

It seems people are uncomfortable about their job security and this means they’re more likely to keep their hands in their pockets rather than spending money. At the same time, fewer people are keen to buy a property this year.