Heading to boom times

The latest data from the Commonwealth Bank Household Spending Intentions (HSI) series released today shows the sharp increase in home buying intentions is continuing. After a measly two-year downturn, homebuyers now appear to be back in a big way. The proportion of Australians planning on purchasing a house is all-time highs, propelled on by three rate cuts according to the latest Commonwealth Bank research.

Beyond housing, the overall picture is one of a gentle upturn in consumer spending intentions. CBA’s Chief Economist Michael Blythe said the sharp upswing in home buying intentions continues and intentions are now approaching the record highs seen in early 2017.

The ongoing improvement in the home buying intentions series indicates that the low point for residential building construction will probably be around mid 2020.

*source The Real Estate Conversation

Posted in Latest news, News, Sell on 20th November, 2019