Login
ISCOVER
A majority of Australians are confident about their financial situation, according to the National Consumer Sentiment Survey released by Mortgage Choice.
The survey revealed 48.5 per cent of Australians are “fairly confident” about their situation while a further 6.8 per cent are “very confident”.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
Mortgage Choice spokesperson Jessica Darnbrough said the optimism was unsurprising given that Australians are currently saving at record levels.
“According to the survey, 33.3 per cent of Australians have saved more than 15 per cent of their after-tax income this year. Moreover, 41.6 per cent of those with a mortgage admitted to having an after-tax income buffer of three months or more,” she said.
The survey also revealed considerable optimism about the Australian economy.
More than 55 per cent of respondents said they were confident the economy would be strong in 2014.
Ms Darnbrough said this is due to a succession of positive economic data.
“The unemployment rate is sitting at just 5.7 per cent, the Consumer Price Index continues to outperform expectations, and the total value of dwelling finance commitments jumped 5.3 per cent in the last month alone,” she said.
“In addition, property prices continue to climb at a steady rate, with recent research from RP Data showing Australian capital city dwelling values grew by 1.3 per cent in October.”
