Markets Live: Resources lift ASX at the open

The Westpac Melbourne Institute Index of Consumer Sentiment rose 0.1 per cent to 104.4 in December from 104.3 in November.

“With another reading above 100, December now marks a full year in which optimists have outnumbered pessimists, a turnaround on 2017 which saw ten out of twelve sentiment updates below the 100 line,” Westpac wrote.

On “time to buy a major household item”, that sub-index rose 3.7 per cent, more than reversing November’s decline but down 1.9 per cent on December 2017.

The “time to buy a dwelling” index fell 3.9 per cent, after a 11.8 per cent surge in the previous month.

“Without a doubt our housing-related indexes show considerable unrest, particularly in NSW and Victoria, while our survey also shows that risk aversion continues to rise,” the report said.

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