Mortgage brokers face increasingly value‑driven clients, with new NAB research showing Australians are tightening day‑to‑day spending while leaning harder on discounts and loyalty deals.
The latest NAB Consumer Stress Index sits at 59.1, above its long‑term average, indicating elevated cost‑of‑living pressure across households.
The survey found more than half (53%) of Australians say they are being careful with everyday purchases, with use of loyalty programs up 42% and shopping during sales up 46% as families try to stretch budgets without abandoning experiences altogether.
Households are also trimming discretionary spending such as eating out, entertainment, and holidays, swapping to cheaper products and reviewing subscriptions and recurring expenses – all factors that influence how much surplus cash is available for mortgage repayments or building a deposit.
NAB banker Dee White said the research reflects how families are adapting as costs rise.
“School holidays can put extra pressure on household budgets, especially when many families are already being careful with everyday spending,” White said in a media release. “What we’re seeing is Australians adjusting by planning ahead, looking for deals, and making small changes that help keep costs down without missing out on time together.”
Fresh figures from the Australian Bureau of Statistics show household spending rose 0.3% in February, following a 0.3% rise in January and a 0.5% fall in December. Over the year, total spending was up 4.6% in nominal terms compared to February 2025.
ABS head of business statistics Tom Lay said discretionary spending increased 0.5% in February, driven by concerts, musicals, air travel and accommodation, while food spending rose 1%. Transport spending fell 0.4%, largely due to lower fuel prices before the Middle East conflict.
At the same time, high‑frequency indicators suggest households are already reacting to the latest fuel shock from the Middle East conflict. Consumer confidence has slumped, with the ANZ–Roy Morgan index tumbling to a record low of 63.1 over four weeks, while inflation expectations have jumped to around 6.9% as higher fuel costs and broader price pressures filter quickly into budgets and perceived borrowing capacity.
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