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Early boost for consumer confidence in 2016

By Kevin Kelly

Australian consumers have largely enjoyed a more positive outlook at the start of 2016, signalling good news for real estate in Bunbury South and other parts of the country. The ANZ-Roy Morgan Consumer Confidence Index has so far posted two results this year, both of which suggest the market is moving in the right direction.

The first index of 2016, which covered the weekend of 2 and 3 January, found confidence levels to be 3.2 per cent higher than their long run average. Much of this rise was a result of consumers' views towards their finances, as the sub-indicator was up 6.4 per cent week on week.

A more positive perception of personal finances can only mean good news for the wider market. If people are more willing to spend, it's likely they will be considering making big ticket purchases such as property.

The latest index for the week to 12 January was slightly less positive, yet remained strong in an historical context. The overall reading registered at 114.1 a decline of 1.9 per cent from the previous week.

Market volatility could be one of the reasons behind the trend, explained chief economist at ANZ Warren Hogan.

"The recent volatility will need to persist and heighten concerns about the health of the world economy for this to translate into a meaningful drop in confidence that could impact consumption and investment," Mr Hogan commented.

Is now the right time to buy?

There are various factors you'll need to think about before deciding whether to buy real estate in Bunbury South. Your personal financial situation will play a major part in this, including how much of a deposit you've managed to build.

Once you're in the position to start looking, get in touch with the team at Ray White Bunbury. We're here to guide you through the process and find you a home that suits your needs.

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