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Low consumer sentiment confirmed

Levels of consumer sentiment may have fallen to levels not seen in the last three years, according to research from Melbourne University's Institute of Applied Economic and Social Research.

The Westpac Melbourne Institute Survey of Consumer Sentiment measured a fall of 3.5 percentage points - settling at 89.6 per cent in August.

Chief economist at Westpac Bill Evans expanded on the findings, saying the index had reached its lowest level since May 2009.

While Evans was not dismissive of the results, he pointed out that the last extended session of sub-90's measures still hailed from the mid-1990s that followed on from the '80s stock market crash.

Confidence for the next year's economic outlook - detailing how consumers feel the next year will turn out - had also fallen by 13.5 per cent. This brings the total drop in potential customer attitude to 30 per cent since April.

To sum up the findings in the report, Evans asserted: "[the fall] clearly points to the consumer remaining cautious".

These findings could mean that both buyers and sellers are less likely to engage in trading in the short term.

Property management training could provide professionals with deeper insight into the long term prospects available to the industry, such as developing ties with existing clients to ensure repeat business.

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