Consumer sentiment is under pressure after having picked up toward the end of 2015. Australia has avoided an economic slowdown thanks in part to strong growth in the housing market, which supported the construction industry and lifted consumer sentiment. However, housing price growth slowed in Q1 2016 and homeowners are feeling less optimistic about the future value of their dwellings. This is evident in weak consumer sentiment, which fell to its lowest level in seven months in March. Consumers’ confidence is likely to take another hit in the coming months as Prime Minister Malcolm Turnbull stirred economic uncertainty when he stated that he would call for a double dissolution election—an extraordinary measure designed to remove deadlocks in Parliament—which will likely be held on 2 July.