Now is a good time to pay off debt

Consumer sentiment numbers released yesterday show a big fall in the numbers of people who think now is a good time to buy into the property market. The proportion of Australians agreeing that ”now is a good time to buy a dwelling” fell from 53 per cent in December to 42 per cent in March.

In September, before rate rises and the phasing out of the first home buyer’s boost, 62 per cent of those surveyed believed it was a good time to buy a house. The proportion of people who agreed with the statement: The wisest use for savings was ”paying down debt” climbed to 27 per cent, its highest on record.

Source: The Age