This week's property round-up

Western Australia has experienced a complete recovery in confidence following a year of damper sentiment, given strong optimism on household spending and long term economic conditions (up 32.2 per cent and 15.7 per cent respectively).

Political changes over the past two months have also contributed to increased positivity. As a result, the Westpac-Melbourne Institute Consumer Sentiment index rose sharply by 10.4 per cent over November 2015 to 104.7 – well above its neutral mark.

Consumers have been increasingly confident about economic conditions over the next year, with the respective component index up 12.9 per cent in November.

Despite the lift in confidence for household spending on the back of a lower inflation rate, expectations for family financial conditions were bleak, with negative sentiment expressed on finances compared to a year ago (down 7.1 per cent). 

Sentiment for the prospect of improved financial conditions in the next twelve months was little changed.