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Should we be worried about a slide in sentiment?

By Louise Morrin

Confidence is something that has a bearing on various aspects of the economy, from people's willingness to buy items to their desire to sell property in Carlton and move up the property ladder.

However, the latest results from Roy Morgan and ANZ show that despite a slight rise in sentiment last week, this result couldn't be maintained for a second seven-day period. The groups' Consumer Confidence Index registered a 3.5 per cent fall in the week to April 27, offsetting some of the recent increases.

One of the biggest declines was in consumers' views towards their personal finances, down 3.3 per cent from the previous week. However, they are hopeful that the situation will improve, as views towards future financial situations were up 1.3 per cent.

A look at property market confidence

The latest findings show that residents of New South Wales are more optimistic about what the future has in store, as confidence levels have risen over the past quarter.

The ANZ/Property Council Survey has a neutral reading of 100. Anything above this level is considered an indicator of optimism, while results below it suggest pessimism. New South Wales registered a reading of 143 during the current quarter, up slightly from 142 the last time the survey was carried out.

"Expectations around NSW state economic growth are higher than all other large states, and reflect three consecutive years of positive sentiment," noted executive director for New South Wales at the Property Council Jane Fitzgerald.

This bodes well for anyone hoping to sell property in Carlton, as confidence often points to greater mobility across the real estate market. The Property Council emphasised that the success of this industry is critical to the overall health of the economy, so these latest results are likely to come as welcome reading to policymakers throughout the state.

For help selling your property in Carlton, make sure you give our experienced team a call.

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