A survey by ANZ/Roy Morgan has revealed that consumer confidence jumped 1.5% last week, and industry experts hope the continuing resurgence in home values will lift it even more.
Falling resources prices and historically low interest rates did not deter the rise.
However, ANZ said that it is still too early to tell if the lift will be sustainable.
"The key question remains whether renewed momentum in asset values can support a sustained lift in confidence over the coming year without an improvement in the labour market and wages growth," ANZ chief economist Warren Hogan said.