Weekend Economist: Bubble bunkum

A surge in house prices across the country indicates a boost in consumer confidence and an increase in line with income growth, but there is no evidence of a bubble yet.

The Westpac Melbourne Institute Index of Consumer Sentiment  increased by 1.9 per cent in November from 108.3 in October to 110.3 in  November.  The survey was conducted in a week when house prices were reported to have risen by 1.9 per cent in the September quarter, with  prices in Sydney rising by 3.6 per cent to be up by 11.4 per cent for the year. 

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