Consumer sentiment plays in a narrow range triangle since 2014. The recent uptick in august to 100 from earlier 96.50 in July seems short-lived.  This appears already on retail sales which follows consumer sentiment and seems likely to slow further. 
australia consumer sentiment
australia consumer sentiment
australia retail sales
  the housing market continues its downward momentum with a bit of acceleration in previous months.
  As we see through the charts;
  • Dwelling approvals are hitting a low of -28.5%   from a year ago. 
  • Construction work done is lowering to -11.1% YoY.
  • Residential property price index percentage change from a year ago is now at a record low level of -7.37% in first quarter, as long as my historical data tell me since September 2004.
australia dwelling approvals
australia dwelling approvals
australia construction work done

Consumer and business sentiment are weighing badly on the housing market and buildings prices.
australia housing market


Also as mentioned by the Housing Industry Association (HIA);

“The federal election in May this year caused some distortion in the market as potential buyers held off on purchasing a new home because of the uncertainty regarding potential changes to negative gearing and capital gains tax.”