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1.Market Observations, 8.Was Sticky

26 Nov 2018 (AFR0 – Wealth effect tempers optimism around household consumption growth

(26 November 2018, AFR, p22, by Vesna Poljak)

‘Even a 10 per cent fall in house prices will be felt by Australia’s richest households and lead to an erosion of consumption growth according to new research from UBS, which suggests the wealth effect in Australia is stronger than realised. The wealth effect is concentrated in richer and older households, as the decline in the household savings ratio since 2011-12 has been led by the actions of the top two quintiles of wealthiest households.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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