24750 – Sentiment & Behavioural Conditions

Sentiment & Behavioural Conditions is one of six component branches of the APN Investment Conditions Index™ (24700). It reports stated sentiment and observed behaviour through three components: Survey Sentiment (24751), Investor Behaviour (24752) and Household Spending Behaviour (24753).

This is a national time-series index, not a geographic one — only the current reading is shown; there is no locality distribution or map for this node.

Each component carries equal weight, and the composition renormalises across the components present in any given quarter. Survey Sentiment is the only directly-surveyed measure of the three; the other two are behavioural, derived from lending and spending data rather than from stated sentiment. The high debt-to-income lending exposure sits in Financing & Volatility Conditions (24710), alongside the other lending-standards evidence.

Each component below carries its own certified reading, ranked against its own recorded history. The large figure is the signed position; the intensity position and ranking basis follow beneath it.

Each component is shown at its own latest certified quarter, on one shared scale (−4σ to +4σ) so they can be compared directly.

Signed, the branch reads 19.6, ranked against the 52 quarters in which all three components are simultaneously present. Household Spending Behaviour (24753) enters negated, so the signed reading sits above the intensity reading rather than mirroring it. Signed, Survey Sentiment (24751) reads 4.9, close to the floor of its own recorded range; Investor Behaviour (24752) reads 45.9 and Household Spending Behaviour reads 62.7. On intensity the branch reads 13.7, the lowest of the six, with Household Spending Behaviour at 37.3.

• Cross-quarter blending at the parent level — each branch is read at its own most recent full-coverage quarter; this branch references the June quarter 2026, while 24710, 24740 and 24760 reference the March quarter 2026 and 24720 and 24730 reference the December quarter 2025. See the APN Investment Conditions Index™ (24700) for the full disclosure.
• Survey history. The survey input reaching Survey Sentiment (24751) carries its full quarterly history from March 2011, and the first-home-buyer versus investor lending spread is built from the ABS source on its documented construction.
• Source reference unresolved on one input. The recorded source reference for the input reaching Household Spending Behaviour (24753) is inconsistent with the data: that series runs across 52 consecutive quarters from the third quarter of 2013, while the referenced collection begins in 2019. The component's direction does not depend on that reference, having been identified from the structure of the values across the pandemic-period break.

The other five components of the APN Investment Conditions Index™ (24700). Each is independently certified and enters that index at equal weight.