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According to the latest consumer sentiment survey from Roy Morgan and ANZ, renters are feeling increasingly more positive.
The weekly gauge of consumer outlook reported that since the start of July, there has been a steady move higher in confidence among renters, with the cohort consistently more positive than those who are making mortgage payments.
In the latest results, renter sentiment hit a high not seen since March 2023. This could be owing to the fact that rental price rises have reportedly hit a ceiling in major markets across the country.
Of course, the most positive cohort as defined by housing type are those who own their home outright, and are not facing fluctuations in housing costs due to interest rates or rental fluctuations.
Overall, though, consumer confidence eased 0.4 points last week to 82.6 points. The four-week moving average fell 0.1 point to 82.7 points.
Weekly inflation expectations, meanwhile, rose 0.1 point to 4.8 per cent, but this was after falling to a 2.5-year low the week before. The four-week moving average fell to 4.9 per cent from 5 per cent.
Current financial conditions, which ask respondents to consider the past 12-month period, declined 1.5 points, while their perspective on future financial conditions – looking forward to the coming 12 months – dropped 1 point.
Short-term economic confidence also dropped back 0.8 points, and while medium-term economic confidence, which looks at the next five years, declined 1.4 points.
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