Our monthly survey with Nine Rewards has found that a net 45% of our 553 respondents are confident that the economy will improve over the coming year. This strong result is consistent with many other sentiment indicators but does not as yet appear to be leading to a widespread willingness by consumers to open their wallets. While there is an upward trend in thoughts of buying a car this is not the case yet for furniture and appliances.
The proportion of respondents thinking about buying an investment property continues to rise and now sits at 7.6% compared with 4.8% just before the Reserve Bank implemented restrictions on low deposit lending which shut many first home buyers out of the market.
The survey is made possible by Nine Rewards, an online market research panel of over 70,000 people in New Zealand. www.ninerewards.co.nz