Overview
- The Westpac–Melbourne Institute index fell 1.7% to 92.9 in January, extending December’s sharp drop and remaining below the neutral 100 level.
- Nearly two-thirds of consumers now expect mortgage rates to rise over the next year, more than double the share reported in September.
- Near-term views deteriorated most, with the family finances next‑year sub-index down 4.5% and the 12‑month economic outlook down 6.5%.
- Job confidence softened, signaling cooling labour‑market optimism after a period of resilience.
- Housing sentiment proved comparatively steady, with younger buyers still positive even as house‑price expectations eased slightly.