Consumer confidence in Australia saw a mild increase for April, the latest survey from Westpac Bank and the Melbourne Institute revealed on Wednesday - rising 0.3 percent to a score of 99.7.
That follows the 0.7 percent decline in March to a reading of 99.5 - and it marks the second straight month below 100 points, which separates optimism from pessimism.
Among the individual components of the survey, the index for family finances versus a year earlier jumped 6.7 percent, while the outlook for economic conditions over the next 12 months surged 10.5 percent.
The expectations index added 2.7 percent, and the outlook for family finances over the next 12 months gained 2.2 percent.
"The Reserve Bank Board next meets on May 6, one week before the Federal Budget is announced. The Governor has indicated in recent statements that a period of rate stability is likely. Today's consumer sentiment report supports that policy approach. It indicates that neither the labor market nor the housing market require rates to rise," Westpac chief economist Bill Evans said.
But the index for people believing that it is a good time to buy a major household item plunged 8.7 percent - hitting a 23-month low.
The index for current conditions dropped 2.7 percent, while the outlook for economic conditions over the next five years tumbled 4.2 percent.
"On the other hand, stability in the Index at around the level where optimists and pessimists are in equal numbers points to a 'neutral' consumer mood that supports a steady approach to monetary policy. Indeed Westpac does not expect that it will be necessary to raise rates before the second half of 2015," Evans added.
Also on Wednesday, the Australian Bureau of Statistics said that the total number of home loans issued in Australia was up a seasonally adjusted 2.3 percent on month in February, standing at 52,460.
That beat forecasts for an increase of 1.5 percent following the flat reading in January.
The number of loans for the construction of new dwellings was up 0.8 percent to A$6.139 billion. Loans for the purchase of new dwellings tumbled 5.0 percent to A$2.616 billion, and loans for the purchase of existing homes added 3.0 percent to A$43.705 billion.
Investment lending climbed 4.4 percent on month to A$10.737 billion after falling 3.7 percent in the previous month.
The total value of housing loans gained 2.9 percent to A$27.644 billion. The value of owner-occupied housing loans added 1.9 percent to A$16.907 billion.
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