New Zealand consumers are more upbeat about buying big ticket items than they have been in five-and-a-half years, with confidence increasing last month.
The ANZ-Roy Morgan Consumer Confidence survey rose 4.4 points to 119.2 in April, just ahead of the historical average at 117.
A net 40 per cent of the 1,019 people surveyed think now is a good time to buy major household items, compared to a net 31 per cent in March. That comes a day after government figures showed about 40 per cent of major appliances were discounted by retailers in the March quarter.
"It is now viewed as a 'great' time to buy a major household item, with readings not seen since August 2007," said Cameron Bagrie, ANZ chief economist. "Rising asset prices and aggressive price discounting are a powerful combination driving sentiment."
The biggest gain in confidence survey was in current conditions, which gained 7.6 points to 119.1, while future conditions edged up to 119.3 from 117.1 in March.