Consumer sentiment positively increasing

I read an interesting article about the consumer confidence index (measured by the Westpac-Melbourne Institute Consumer Sentiment Index) and the importance placed on that for investment property advice. Tim Lawless from RP data has described the index to be “one of the most important for the housing market with the index showing an 85% correlation with the number of transactions in the housing market”

Good news for those of us looking at getting started in property investment, the index is rising, meaning there is more confidence back in the market. Tim Lawless put it simply saying that when confidence is up, the number of housing transactions also increases.