''The rate cut has further boosted confidence around whether now is a good time to purchase a house with the index tracking sentiment on this improving by a further 1.9% to reach its highest level since September 2009. That year Australian house prices increased 14% and were a major factor behind the Reserve Bank’s November decision to begin the rate hike cycle which lasted until November 2010.''
''The September survey also included additional questions on consumers’ savings preferences. There was a fall in the proportion of respondents who favour bank deposits, down 4.1% from a record 39% in September to 34.9% in December. In contrast we saw a 4.1% jump in the proportion of respondents who favour real estate to 24.0%. Apart from June this year, when a quarter of consumers favoured property, this represents the highest reading since 2005.''
