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Australians are expressing more optimism about their financial future, a new report has found.
According to the Melbourne Institute Household Financial Conditions Index, released yesterday, Australians living in Western Australia and Queensland are veering away from renting and are more likely to ‘take up a mortgage.’
Growing consumer confidence, low unemployment levels and interest rates are behind the transition from renting to owning a home.
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Overall, the household financial conditions index, which measures household optimism, increased by 7.4 per cent compared to the situation in June, and by 13.5 per cent compared to the situation this time last year.
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