As price houses rise, people are feeling better about their finances and are more confident in splashing our on big ticket items like a house.
The graph below from the Westpac Bank.
Here is what the experts are saying:
“After a modest fall last month the index has returned to be back near its previous peaks in 2013 registered in March and September. These are the highest reads since the July-December period in 2010,” said Westpac chief economist Bill Evans.
“Respondents were more optimistic about their own finances, with that index surging 13.3 per cent in November. That came even as people seemed to be more worried about the future, with the measure of finances over the next 12 months dropping 7.9 per cent.
That confidence we see could be because of rising home prices. This, seen in particular in NSW.
So where does this leave us?
If you are looking to buy a house, do your research and buy at a good price. And don’t over capitalise your ability to repay debts as well. There are always houses to buy. You don’t need to rush yourself before you are ready.
For more information about buying a house click on www.propertysolutionsforaustralia.com