Australian Consumers Remain Downbeat About Economic Outlook
The Westpac-Melbourne Institute Consumer Sentiment Index slipped to 84.6 in September from 85.0 in August
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SYDNEY—Australian consumer confidence fell in September amid concerns about job security as economic growth slows to a crawl.
The Westpac-Melbourne Institute Consumer Sentiment Index slipped 0.5% to 84.6 in September from 85.0 in August.
While cost-of-living pressures are becoming a little less intense and fears of further interest rate rises have eased, consumers are becoming more concerned about where the economy may be headed and what this could mean for jobs, said Westpac’s Head of Australian Macro-Forecasting, Matthew Hassan.
Consumers remain concerned about rising inflation, which is stoking concerns that interest rates may rise further, Hassan added.
The report comes a week after data showed the economy barely registered a pulse in the second quarter as consumer spending dropped sharply.
On-year GDP growth in the second quarter was the weakest since the early 1990s, excluding the pandemic years.
At the same time, the Reserve Bank of Australia continued to signal that interest rate cuts are unlikely in the near term, while adding that under certain circumstances a further hike in interest rates may be needed.
The RBA remains concerned about price growth, with core inflation remaining stubbornly elevated at nearly 4.0% on year in the second quarter.
Still, while consumers are downbeat, economists expect spending to regather momentum over coming quarters as income tax cuts delivered in July boost household budgets.
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Held by the same family for 26 years, this Harbour Bridge-facing residence at Longueville is the type of property that rarely comes to market. Set on more than 1,100 sqm on one of Sydney’s most tightly held peninsulas, it combines complete privacy with uninterrupted views across the harbour to the city skyline.
It’s the sort of offering where the land is just as important as the home. Positioned directly opposite Aquatic Park with a prized northeast aspect, the residence captures sweeping harbour views from almost every main living space while remaining remarkably secluded from neighbouring properties.
Large picture windows frame the outlook throughout the home, flooding the interiors with natural light and making the harbour the centrepiece of everyday living.
Designed for family living
The home offers multiple living zones, including a formal lounge and dining rooms, a separate family room and an open-plan living and meals area. Blackbutt timber parquetry flooring, high ceilings and ducted reverse-cycle air conditioning feature throughout.
The kitchen sits at the heart of the home, with induction cooking, a generous island bench, and a walk-in pantry, connecting both the formal entertaining areas and the more casual family spaces.
A ground-floor master suite includes a walk-in robe, dressing area and ensuite, while upstairs are three additional bedrooms with built-in robes, together with a spacious home office or study.
The lower ground level adds another layer, with a temperature-controlled cellar and tasting room, plus a flexible gym, wellness or recreation space.
Resort-style setting overlooking Sydney Harbour
Outside, landscaped gardens wrap around a heated swimming pool, an expansive entertaining terrace, and a level lawn, creating a private resort-style setting against the backdrop of Sydney Harbour.
Additional features include a solar system with battery storage, remote lock-up garaging for three vehicles and generous storage throughout.
Beyond the home itself, the location remains one of Longueville’s biggest drawcards. Longueville Ferry Wharf sits around 150 metres away, providing direct access to the CBD while preserving the quiet character of one of Sydney’s most tightly held waterfront suburbs. The property is also within the catchments of Lane Cove Public School and Hunters Hill High School.
Simon Harrison and Kim Walters of Belle Property Lane Cove are marketing the property on a Contact Agent basis.
At a glance
Address: 3 Mary Street, Longueville NSW 2066
Configuration: 4 bedrooms | 3 bathrooms | 3-car garage
Land: Approximately 1,100 sqm
Highlights: Harbour Bridge and city skyline views, northeast aspect, heated pool, cellar, solar with battery storage
Held: First time offered in 26 years
Price: Contact Agent
Agents: Simon Harrison and Kim Walters, Belle Property Lane Cove
This article is produced by the Kanebridge Media editorial team. Property information has been supplied by the listing agent. Buyers should conduct their own due diligence before relying on any information contained in this article. Enquiries: propertyconcierge@kanebridge.com.au.
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