By a staff reporter
Confidence in the outlook of housing prices climbed to its highest point in almost three years in the three months to April according to a leading survey.
The Westpac-Melbourne Institute consumer house price expectations index rose from +26.7 in January to +53.9 in Apil.
The index now sits at its highest point since
The index measures the net percentage of those expecting prices to rise and those expecting prices to fall.
"This is a substantial improvement, marking a breakout from the 'moderately positive' range the Index had been stuck in since January 2012," Westpac said of the result.
"After an extended period of uncertainty, Australian consumers now look to be much more convinced that house prices are on the way up."
Quick Summary:
Westpac-MI index lifts to almost 3-year high in three months to April.
Associated image:
Media:
Categories:
Primary category:
Status:
Published
Content Channel: