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Melbourne Institute

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Namestring
Melbourne Institute
Legal namestring
Melbourne Institute of Applied Economic and Social Research
Company typeenum
Private
Founded yearint
1960
Descriptiontext

The Melbourne Institute of Applied Economic and Social Research is a research institute within the Faculty of Business and Economics at the University of Melbourne, founded in 1960 and operating from Carlton (legal entity registered in Parkville), Victoria, Australia. It conducts rigorous, independent applied economic and social research in Australia and the broader Asia-Pacific region, serving federal, state, and local government agencies as its primary segment, alongside academic researchers, industry partners, and community organisations. The institute maintains a small core team of approximately 25 employees and relies on affiliated University of Melbourne economists and visiting collaborators.

Its core offerings are research products and data assets rather than commercial software. The flagship is the HILDA Survey (Household, Income and Labour Dynamics in Australia), a large-scale longitudinal panel study tracking Australian households over more than 20 years. The institute also produces monthly macroeconomic indicators, including GDP nowcasts, Phases of the Australian Business Cycle, the Westpac-Melbourne Institute Leading Index, the State Leading Indexes of Economic Activity, and a monthly Survey of Consumer Inflationary and Wage Expectations. Applied research streams span health economics, family and labour economics, wellbeing and economic empowerment, and disadvantage and wellbeing in the Asia-Pacific. Events include the HILDA Survey Research Conference, the Melbourne Annual Macro Policy Meeting, the inaugural 2026 LEAP Summit on LGBTQ economics, and the 2026 CALIBER AI Summit.

The institute monetises through annual subscriptions to macroeconomic reports, individual report purchases, paid HILDA data access for academic researchers, and fee-based training workshops (e.g., Introduction to HILDA, Analysing HILDA with Stata); some macroeconomic reports are distributed free of charge. As a university research institute under the University of Melbourne's institutional structure (ABN 84 002 705 224, CRICOS 00116K), it does not disclose commercial revenue and has no venture capital or private equity backing.

Short descriptiontext

The Melbourne Institute of Applied Economic and Social Research is a University of Melbourne research institute that conducts independent applied economic and social research in Australia and the Asia-Pacific. It serves governments, academics, industry, and communities through the HILDA longitudinal household survey, monthly macroeconomic indicators, and policy research.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
11–50
akta.pro rankint
Markets served

Serves global market

Keyword5 values
applied economic research, macroeconomic analysis, longitudinal survey research, policy research, economic forecasting
Industry4 codes
PRIMARYBPAHALAD
Economic & Macroeconomic Research
SECONDARYBPAHALAE
Industry & Sector Research (Syndicated/Custom)
SECONDARYEDAHABAD
Social Sciences & Public Policy Research Universities
SECONDARYEDAGAFAD
Social Sciences Scholarly Publishing
Education/Educational Publishing & Learning Content/Academic & Scholarly Publishing (Journals, Monographs)
NAICS code3 codes
  • Research and Development in the Social Sciences and Humanities54172
  • Research and Development in the Social Sciences and Humanities541720
  • Marketing Research and Public Opinion Polling54191
SIC code1 code
  • Services-Management Consulting Services8742
Product category
Economic and Social Research Services
Marketing channels6 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels3 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components5 values
Personnel, Technology or R&D, Operations, Marketing or Sales, Others
Pricing details1 tier
1Free reports available alongside subscription access
ModelSubscriptionBilling cadenceAnnual
Notes

Macroeconomic reports available for individual purchase or through subscription for continued access to future releases.

melbourneinstitute.unimelb.edu.au
GTM typeB2B
B2B
Offering typeServices
Services
Core offering1 text field

The Melbourne Institute of Applied Economic and Social Research conducts rigorous, independent applied economic and social research. It produces longitudinal household panel studies (HILDA), macroeconomic reports (GDP nowcasts, State Leading Indexes, Phases of the Business Cycle), consumer inflation and wage expectations surveys, and specialized research programs in health economics, family and labour economics, wellbeing, and Asia-Pacific disadvantage. It sells subscriptions and individual reports and offers HILDA data access and training workshops to researchers and policymakers.

Differentiator
Functional benefit
Problem solved
Product overview1 text field

The Melbourne Institute of Applied Economic and Social Research is a leading research institute at the University of Melbourne offering a portfolio of research products and services. The core offering includes longitudinal surveys (HILDA), macroeconomic reports and indicators (Nowcast of Australian GDP, State Leading Indexes, Consumer Inflationary Expectations), and specialized research in health economics, family and labour economics, wellbeing, and Asia-Pacific disadvantage. The institute also organizes conferences and summits including the LEAP Summit for LGBTQ+ economics, the Melbourne Annual Macro Policy Meeting, HILDA Survey Research Conference, and the CALIBER AI Summit. Research outputs include reports, seminars, workshops, and training programs. The institute has operated for over 60 years serving governments, industry, and communities.

Product and service8 records
1HILDA Survey (Household, Income and Labour Dynamics in Australia)
CategoryResearch product
Description

A large-scale longitudinal household panel survey that follows the same Australian individuals over time to track changes in employment, income, family dynamics, and wellbeing. Data access is made available to academic researchers through formal data access agreements.

2Macroeconomics Research and Reports
CategoryResearch product
Description

Macroeconomic research and report subscriptions including Phases of the Australian Business Cycle, Nowcast of Australian GDP, State Leading Indexes of Economic Activity, and the Westpac-Melbourne Institute Leading Index, available for individual purchase or subscription-based access.

3Survey of Consumer Inflationary and Wage Expectations
CategoryResearch product
Description

Monthly survey measuring average Australian householders' expected rate of consumer price changes and wage growth over the coming 12 months, providing key economic indicators.

4Disadvantage and Wellbeing in the Asia-Pacific Research
CategoryResearch program
Description

Research initiative focused on improving the lives of vulnerable populations across the Asia-Pacific region.

5Family and Labour Economics Research
CategoryResearch program
Description

Research program focused on breaking cycles of disadvantage and unlocking opportunity through labour market analysis and family economics studies.

6Health Economics Research
CategoryResearch program
Description

Research program championing the importance of an efficient and equitable healthcare system in Australia.

7Wellbeing and Economic Empowerment Research
CategoryResearch program
Description

Research program using data to break down barriers and create a more equitable Australian society, with a focus on priority populations.

8HILDA Survey Training Workshops
CategoryTraining services
Description

In-person and online training programs for HILDA Survey users, including Introduction to the HILDA Survey and Analysing HILDA with Stata.

Recent move6 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight5 records

Each record includes

Type, Description

Peers10 records
TypeRegional player
Description

New Zealand's leading economic research consultancy producing macroeconomic forecasts, surveys, and policy analysis — closely comparable in scope (macro forecasting, consumer sentiment, business cycles) and operates in a neighbouring Asia-Pacific market.

TypeDirect peer
Description

Applied research organization producing independent social-science, economic, and policy research for governments and industry, with a comparable diversified research-portfolio model and subscription-style report offerings.

TypeDirect peer
Description

UK-based independent economic research institute producing high-quality micro-data analysis and macroeconomic commentary — highly comparable in research methodology, data assets, and policy-client focus.

TypeDirect peer
Description

Leading global think tank conducting independent social and economic research, with similar academic-style rigor, multiple research programs, and a comparable audience of policymakers and researchers.

TypeDirect peer
Description

Independent Australian public-policy think tank producing rigorous economic and social policy research, closely comparable in mission, geography, and customer base (government, industry, communities) to the Melbourne Institute.

TypeBroad incumbent
Description

Australia's central bank producing macroeconomic analysis, business-cycle research, and consumer/inflation surveys that directly compete with several Melbourne Institute flagship products.

7Centre for Aboriginal Economic Policy Research (CAEPR) at ANU
TypeDirect peer
Description

Australian university-based social-science research centre focused on economic and policy research for disadvantaged populations — comparable as a university-embedded applied economic and social research institute with policy-client focus.

TypeBroad incumbent
Description

Australian government body conducting independent policy research and economic analysis — overlaps with the Melbourne Institute's evidence-for-policy work but operates at greater scale and with statutory authority.

TypeEmerging player
Description

Bank-affiliated economics team that co-brands the Westpac-Melbourne Institute Leading Index; produces comparable Australian macroeconomic research and consumer-sentiment analysis for a commercial audience.

TypeBroad incumbent
Description

International organization producing cross-country economic research, surveys, and policy analysis with similar macroeconomic, labour, and social-policy coverage as the Melbourne Institute's research streams.

Market position
Strengths4 records

Each record includes

Headline, Details, Source

Weaknesses4 records

Each record includes

Headline, Details, Source

Competitive moat4 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights6 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Segment4 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile3 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Feature1 record

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Melbourne Institute

Economic and Social Research Servicesmelbourneinstitute.unimelb.edu.au

The Melbourne Institute of Applied Economic and Social Research is a University of Melbourne research institute that conducts independent applied economic and social research in Australia and the Asia-Pacific. It serves governments, academics, industry, and communities through the HILDA longitudinal household survey, monthly macroeconomic indicators, and policy research.

What Melbourne Institute does

The Melbourne Institute of Applied Economic and Social Research is a research institute within the Faculty of Business and Economics at the University of Melbourne, founded in 1960 and operating from Carlton (legal entity registered in Parkville), Victoria, Australia. It conducts rigorous, independent applied economic and social research in Australia and the broader Asia-Pacific region, serving federal, state, and local government agencies as its primary segment, alongside academic researchers, industry partners, and community organisations. The institute maintains a small core team of approximately 25 employees and relies on affiliated University of Melbourne economists and visiting collaborators.

Its core offerings are research products and data assets rather than commercial software. The flagship is the HILDA Survey (Household, Income and Labour Dynamics in Australia), a large-scale longitudinal panel study tracking Australian households over more than 20 years. The institute also produces monthly macroeconomic indicators, including GDP nowcasts, Phases of the Australian Business Cycle, the Westpac-Melbourne Institute Leading Index, the State Leading Indexes of Economic Activity, and a monthly Survey of Consumer Inflationary and Wage Expectations. Applied research streams span health economics, family and labour economics, wellbeing and economic empowerment, and disadvantage and wellbeing in the Asia-Pacific. Events include the HILDA Survey Research Conference, the Melbourne Annual Macro Policy Meeting, the inaugural 2026 LEAP Summit on LGBTQ economics, and the 2026 CALIBER AI Summit.

The institute monetises through annual subscriptions to macroeconomic reports, individual report purchases, paid HILDA data access for academic researchers, and fee-based training workshops (e.g., Introduction to HILDA, Analysing HILDA with Stata); some macroeconomic reports are distributed free of charge. As a university research institute under the University of Melbourne's institutional structure (ABN 84 002 705 224, CRICOS 00116K), it does not disclose commercial revenue and has no venture capital or private equity backing.

Melbourne Institute firmographics

Firmographics
Name
Melbourne Institute
Legal name
Melbourne Institute of Applied Economic and Social Research
Website
https://melbourneinstitute.unimelb.edu.au
Company type
Private
Founded year
1960
Operating status
Operating
Headcount range
11–50 employees
Short description
The Melbourne Institute of Applied Economic and Social Research is a University of Melbourne research institute that conducts independent applied economic and social research in Australia and the Asia-Pacific. It serves governments, academics, industry, and communities through the HILDA longitudinal household survey, monthly macroeconomic indicators, and policy research.
Ownership category
akta.pro rank

Melbourne Institute industry classification

Industry
Product category
Economic and Social Research Services
NAICS
Research and Development in the Social Sciences and Humanities (54172), Research and Development in the Social Sciences and Humanities (541720), Marketing Research and Public Opinion Polling (54191)
SIC
Services-Management Consulting Services (8742)
akta.pro industry
PRIMARYBPAHALAD
Economic & Macroeconomic Research
SECONDARYBPAHALAE
Industry & Sector Research (Syndicated/Custom)
SECONDARYEDAHABAD
Social Sciences & Public Policy Research Universities
SECONDARYEDAGAFAD
Social Sciences Scholarly Publishing
Education/Educational Publishing & Learning Content/Academic & Scholarly Publishing (Journals, Monographs)

Keywords

  • Applied economic research
  • Macroeconomic analysis
  • Longitudinal survey research
  • Policy research
  • Economic forecasting

Melbourne Institute business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Personnel, Technology or R&D, Operations, Marketing or Sales, Others

Pricing tiers

ModelBillingPrice
SubscriptionAnnualFree reports available alongside subscription access

Distribution channels3 records

Marketing channels6 records

Melbourne Institute product offering

Product offering

Core offering

The Melbourne Institute of Applied Economic and Social Research conducts rigorous, independent applied economic and social research. It produces longitudinal household panel studies (HILDA), macroeconomic reports (GDP nowcasts, State Leading Indexes, Phases of the Business Cycle), consumer inflation and wage expectations surveys, and specialized research programs in health economics, family and labour economics, wellbeing, and Asia-Pacific disadvantage. It sells subscriptions and individual reports and offers HILDA data access and training workshops to researchers and policymakers.

Product overview

The Melbourne Institute of Applied Economic and Social Research is a leading research institute at the University of Melbourne offering a portfolio of research products and services. The core offering includes longitudinal surveys (HILDA), macroeconomic reports and indicators (Nowcast of Australian GDP, State Leading Indexes, Consumer Inflationary Expectations), and specialized research in health economics, family and labour economics, wellbeing, and Asia-Pacific disadvantage. The institute also organizes conferences and summits including the LEAP Summit for LGBTQ+ economics, the Melbourne Annual Macro Policy Meeting, HILDA Survey Research Conference, and the CALIBER AI Summit. Research outputs include reports, seminars, workshops, and training programs. The institute has operated for over 60 years serving governments, industry, and communities.

Differentiator

Problem solved

Functional benefit

Products and services

  • HILDA Survey (Household, Income and Labour Dynamics in Australia) A large-scale longitudinal household panel survey that follows the same Australian individuals over time to track changes in employment, income, family dynamics, and wellbeing. Data access is made available to academic researchers through formal data access agreements.
  • Macroeconomics Research and Reports Macroeconomic research and report subscriptions including Phases of the Australian Business Cycle, Nowcast of Australian GDP, State Leading Indexes of Economic Activity, and the Westpac-Melbourne Institute Leading Index, available for individual purchase or subscription-based access.
  • Survey of Consumer Inflationary and Wage Expectations Monthly survey measuring average Australian householders' expected rate of consumer price changes and wage growth over the coming 12 months, providing key economic indicators.
  • Disadvantage and Wellbeing in the Asia-Pacific Research Research initiative focused on improving the lives of vulnerable populations across the Asia-Pacific region.
  • Family and Labour Economics Research Research program focused on breaking cycles of disadvantage and unlocking opportunity through labour market analysis and family economics studies.
  • Health Economics Research Research program championing the importance of an efficient and equitable healthcare system in Australia.
  • Wellbeing and Economic Empowerment Research Research program using data to break down barriers and create a more equitable Australian society, with a focus on priority populations.
  • HILDA Survey Training Workshops In-person and online training programs for HILDA Survey users, including Introduction to the HILDA Survey and Analysing HILDA with Stata.

Companies that use Melbourne Institute

Customer profile

Segments4 records

Ideal customer profiles3 records

Melbourne Institute technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Feature1 record

Melbourne Institute partnerships and signals

Strategic signal

Recent moves6 records

Expansion highlights5 records

Melbourne Institute competitors and assessment

Company assessment

Regional players

  • NZ Institute of Economic Research (NZIER): New Zealand's leading economic research consultancy producing macroeconomic forecasts, surveys, and policy analysis — closely comparable in scope (macro forecasting, consumer sentiment, business cycles) and operates in a neighbouring Asia-Pacific market.

Direct peers

  • RAND Corporation: Applied research organization producing independent social-science, economic, and policy research for governments and industry, with a comparable diversified research-portfolio model and subscription-style report offerings.
  • Institute for Fiscal Studies: UK-based independent economic research institute producing high-quality micro-data analysis and macroeconomic commentary — highly comparable in research methodology, data assets, and policy-client focus.
  • Brookings Institution: Leading global think tank conducting independent social and economic research, with similar academic-style rigor, multiple research programs, and a comparable audience of policymakers and researchers.
  • Grattan Institute: Independent Australian public-policy think tank producing rigorous economic and social policy research, closely comparable in mission, geography, and customer base (government, industry, communities) to the Melbourne Institute.
  • Centre for Aboriginal Economic Policy Research (CAEPR) at ANU: Australian university-based social-science research centre focused on economic and policy research for disadvantaged populations — comparable as a university-embedded applied economic and social research institute with policy-client focus.

Broad incumbents

  • Reserve Bank of Australia: Australia's central bank producing macroeconomic analysis, business-cycle research, and consumer/inflation surveys that directly compete with several Melbourne Institute flagship products.
  • Productivity Commission: Australian government body conducting independent policy research and economic analysis — overlaps with the Melbourne Institute's evidence-for-policy work but operates at greater scale and with statutory authority.
  • OECD Economics Department: International organization producing cross-country economic research, surveys, and policy analysis with similar macroeconomic, labour, and social-policy coverage as the Melbourne Institute's research streams.

Emerging players

  • Westpac Economics: Bank-affiliated economics team that co-brands the Westpac-Melbourne Institute Leading Index; produces comparable Australian macroeconomic research and consumer-sentiment analysis for a commercial audience.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Melbourne Institute social profiles

Digital presence

Melbourne Institute financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Melbourne Institute leadership team

Management profile

Number of profiles

Melbourne Institute funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Melbourne Institute M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Melbourne Institute

What does Melbourne Institute do?

The Melbourne Institute of Applied Economic and Social Research conducts rigorous, independent applied economic and social research. It produces longitudinal household panel studies (HILDA), macroeconomic reports (GDP nowcasts, State Leading Indexes, Phases of the Business Cycle), consumer inflation and wage expectations surveys, and specialized research programs in health economics, family and labour economics, wellbeing, and Asia-Pacific disadvantage. It sells subscriptions and individual reports and offers HILDA data access and training workshops to researchers and policymakers.

Is Melbourne Institute a public or private company?

Melbourne Institute is a private company. It is classified as corporate owned and is currently operating.

When was Melbourne Institute founded?

Melbourne Institute was founded in 1960. It employs 11 to 50 people.

Who are Melbourne Institute's main competitors?

NZ Institute of Economic Research (NZIER) is listed as a regional player. Direct peers are RAND Corporation, Institute for Fiscal Studies, Brookings Institution, Grattan Institute and Centre for Aboriginal Economic Policy Research (CAEPR) at ANU. Broad incumbents are Reserve Bank of Australia, Productivity Commission and OECD Economics Department. Westpac Economics is listed as an emerging player.

Does Melbourne Institute have an API?

No public API is recorded for Melbourne Institute.

What industry is Melbourne Institute in?

Melbourne Institute's product category is Economic and Social Research Services. Its primary akta.pro industry code is BPAHALAD, Economic & Macroeconomic Research, with a secondary code of BPAHALAE, Industry & Sector Research (Syndicated/Custom). Its NAICS code is 54172 and its SIC code is 8742.

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Live signals
The Business TimesAustralian consumer sentiment slides under rates, petrol pressureAustralian consumer sentiment fell 5.2% to 84.4 in September, according to a Westpac-Melbourne Institute survey. The drop was driven by higher fuel prices and interest rate fears, reversing a prior gain. Sentiment remains 12% below a year earlier, with pessimists outnumbering optimists.Investing.comAustralian consumer sentiment slides under rates, petrol pressure By ReutersAustralian consumer sentiment fell 5.2% to 84.4 in September, according to a Westpac-Melbourne Institute survey. The drop was driven by higher interest rates and rising fuel prices, with family finances down 9.2% and mortgage holders' sentiment down 13%.ReutersAustralian consumer sentiment slides under rates, petrol pressureAustralian consumer sentiment fell 5.2% to 84.4 in September, according to a Westpac-Melbourne Institute survey. The drop was driven by fears of higher interest rates and rising fuel prices, with family finances down 9.2% and mortgage holders' sentiment down 13%.CoinMarketCapAustralia’s TD-MI Inflation Gauge Jumps to 4.8% in August, Signaling Renewed Price Pressures: Guest Post by ItsBitcoinWorldAustralia's TD Securities-Melbourne Institute Inflation Gauge rose to 4.8% in the year to August, up from 4% in July, with a 0.4% monthly increase, according to data released Tuesday. The gauge, which tracks consumer prices across a broad basket, recorded its highest annual pace since late 2023, driven by housing, food and transport costs. The RBA has held its cash rate at 4.35% since November 2023, and the official CPI due in late October will be watched.investingLiveAustralian consumer sentiment rises 6% to 88.9 but stays deep in pessimismThe Westpac-Melbourne Institute Consumer Sentiment Index rose 6% to 88.9 in August, driven primarily by mortgage holders reacting to the Reserve Bank of Australia's decision to hold interest rates steady. Despite this increase, the index remains well below year-ago levels with pessimists continuing to outnumber optimists, and unemployment expectations have risen above their long-run average.The AustralianConsumer confidence near 50-year lows despite slight July riseAustralian consumer confidence rose 4.1% in July to 83.9 index points but remains near 50-year lows, with households still under "intense pressure" amid cost-of-living concerns, according to the Westpac-Melbourne Institute Consumer Sentiment Index. Lower fuel prices were the main driver of the July improvement, but oil prices have since risen 15%, and economists expect the RBA to raise the cash rate in August, threatening a reversal. Separately, National Australia Bank's Monthly Business Survey showed business confidence recovered 9 points to -5 index points in June, as cost pressures proved less severe than initially feared.TradingeconomicsAustralia Leading Economic IndexThe Westpac-Melbourne Institute Leading Economic Index for Australia was flat in July 2026 after an upwardly revised 0.1% gain in June, with the six-month annualised growth rate improving to -0.2% from -0.4%. Westpac expects the Reserve Bank to hold rates in September while remaining ready to tighten if inflation proves sticky.TradingeconomicsAustralia Consumer Confidence MoMAustralia’s Westpac–Melbourne Institute Consumer Sentiment Index rose 6.0% month-over-month to 88.9 in August 2026, marking its fastest gain since November 2025. The improvement was driven by reduced anxiety among mortgage holders regarding interest rate hikes and brighter assessments of household finances. Despite this acceleration, the index remains nearly 10% below its level from a year earlier.The Business TimesAustralia’s consumer sentiment slides in December on renewed angst over inflation, rateAustralia's consumer sentiment decreased by 9 percent to 94.5 in December, according to a Westpac-Melbourne Institute survey, following a previous month of positive growth. The decline reflects renewed concerns among households regarding inflation and the interest rate outlook. The sentiment index reading fell below 100, indicating that pessimists now outnumber optimists.Business InsiderAustralians hold the dimmest view they've had on property as an investment in over 40 yearsThe Westpac/Melbourne Institute consumer sentiment index rose to 97.9 in August, but remains below its long-term average. Real estate as an investment fell to a 40-year low at 10.5%, while 57% of consumers expect house prices to rise. Westpac chief economist Bill Evans maintains his forecast that the RBA will not raise rates in 2018.