Aussie John on the Aussie election

by AB04 Sep 2013

It’s going to take a lot more than just a change in government to boost economic confidence, according to Aussie Home Loans. The major broking franchise has published survey results showing 73% of Australians believe their financial situation will be ‘the same’ or ‘worse’ after the Federal election, regardless of outcome.

“It is clear from these results that it will take more than just a change in government to boost Australia’s economic confidence,” says Aussie founder and chairman, John Symond.

Symond believes the public is highly influenced by the economic situation overseas and the purported ‘two-speed’ economy – due to fluctuation in the mining sector – and have remained cautions since the GFC.

“These people will need to see genuine economic recovery in order to boost their confidence. It is heartening to see that almost half the people surveyed intend to purchase somewhere in the next two years, but the economic pessimism may take some time yet to recover from.”

The survey of 1,000 people aged between 18-65, conducted by Nine Rewards, found that 42.3% of Australians are considering purchasing property within the next two years, with 32.9% of respondents feeling ‘a little’ or ‘very’ concerned with the current state of the Australian economy. 

More than half the respondents (56.2%) feel that another minority government, regardless of which party leads, would make them less, or far less confident with state of the economy - but an astounding 36.3% feel that it would not change their confidence.

The survey was undertaken in the final week of August.

COMMENTS

  • by Tony 4/09/2013 9:47:12 AM

    Things will improve significantly once Rudd and Greens gone.
    The country awaits change of government on Saturday!!!

  • by Concerned 4/09/2013 11:32:34 AM

    I am just happy I have managed to put some funds aside for the next few years, once the LIB's get in I'll need very cent saved to cover the onslaught of tax increase’s they seem to love. Can't wait to see how much they raise the GST too. They have shown what they are capable of doing in WA, minning boom well where has all the money gone.

  • by MCC 4/09/2013 1:23:29 PM

    Sorry Tony but Governments do not have control of national economies. Why do you think the political issue of 'border control' manifested itself via Tampa in 2000. Because that one thing they think they can control (even though thats also incorrect). Here's why we are in a state of low economic growth for the next 3 years:-
    - stubbornly high A$ (despite recent declines)
    - Increased insolvencies across all industry sectors.
    - Large unreported under employment
    - Reducing tax revenues
    I'm not going to explain anymore other than to say if the public sector spending reduces in the pursuit of adjusting a deficit, then what private sector industries will pick up the slack? In other words where the hell is growth supposed to come from!!!!! As I've said before beware of 'Austerity' . No amount of playing around in the warmer spring weather like happy little morons is likely to fix the 'under employment clouds' on the horizon. Western economies are driven by 'consumption' . No jobs, no money , no consumption!!!!

    Got it!