Consumer property sentiment falls

The decline in consumer confidence since its peak in 2022-23 is causing people to hold off on buying big-ticket items like homes and cars, according to Terra Media and Consulting. This shift in sentiment is likely influenced by economic factors such as rising interest rates and inflation, which are making consumers more cautious. The drop in property-related purchases could have broader implications for the real estate market, potentially slowing growth and affecting related industries. This trend underscores the sensitivity of consumer behavior to economic conditions.