More pessimistic Illawarra residents are spending their way to happiness.

13 February 2019

The IRIS Consumer Sentiment Monitor of the Illawarra was released this week and paints a picture of mixed sentiment, with overall consumer sentiment continuing its long-term trend below the national average trend and sharply in contrast to our neighbours in Western Sydney.

The Illawarra Consumer Sentiment Index has lifted 2 pts to 89 pts since the December 2017 quarter. Over the same period Westpac’s Australian Consumer Sentiment Index was up one point to 104 pts.

Perceptions of housing affordability in the Illawarra have continued to trend upwards. The Dwelling Purchase Index is now sitting at 91 pts, up 25 pts on this time last year. Buyer sentiment is now at the highest level in 10 years.

However, Illawarra residents are increasingly pessimistic regarding their household financial position. The Current Financial Position Index fell 6 pts to 97 pts over the year while the Future Financial Position Index was down 9 pts to 97 pts.

Consumer spending results were mixed. Recreation & travel, vehicles, education services, technology services and technology equipment saw higher spending compared to this time last year. Clothing & footwear and household furniture & equipment were down over the year.

Read the full report more in our Members Only Publication Section