PRDnationwide’s latest release, Key Economic Indicators Infographic Q2 2017 provides economic insights and highlights property industry trends.
Informing consumers with a quick snapshot of the current state of affairs the PRDnationwide Key Economic Indicators cover both national and state level data, comprising of:
- First Home Buyer Loans
- Home loan affordability index
- Number of dwelling approvals
- Consumer sentiment index
- Standard variable loan
- Consumer price inflation index
- Unemployment rate
- Weekly family income
- Nett migration
Consumer sentiment is a key indication of the general population’s confidence in the economy, whereby an increasing sentiment suggests consumers are more willing to spend rather than save. Consumer sentiment has remained under the positive line (100 index points) in May 2017, currently at 99 index points, suggesting there is cautiousness in the market. This is despite the RBA keeping the cash rate stable, which is reflected in the standard variable loan remaining constant at 5.3%.