Aussies confident of continued economic boom

Staff Reporter Tuesday, 25 Dec 2007 1 minute read

Australia’s property owners are confident the economy will remain strong over 2008.

According to Mortgage Choice’s annual consumer sentiment survey, an overwhelming 83 per cent of respondents believe that the nation’s economy will continue to fire despite the global credit crunch, rising house prices and home affordability problems.

The figure is up from the 69 per cent registered at last year’s survey.

The outcome of the survey, said Mortgage Choice's national manager of corporate affairs Warren O’Rourke, provided an interesting insight into the general public’s expectations of and plans for the short-term future, especially in terms of property investment.

“There has been a significant uplift in Australian’s perception of the country’s financial situation,” he said.

“Sentiment increased by 14 percentage points and interest rates and economic management at a federal level are the top two concerns, followed by petrol prices.

“Consumers continue to have a positive outlook on property and their finances,” he said.