There is nothing quite like a strong rise in the price of housing to increase our feeling of prosperity, drive consumer confidence and lift spending.

And as we head into a Christmas spending period we are hitting the “wealth effect” sweet spot – which will be good news for companies selling discretionary goods and services.

Inflation has eased along with interest rates while house prices, share values and our superannuation are all growing at a pace.

The ASX200 share market index has grown 7.6 per cent over the past six months, but it is house price growth that is lifting the spirits of many consumers.

House price growth is making owners wealthy.Credit: Joe Armao

It is the way to make money, exertion free.

At least for the two-thirds that have a foothold in the property market. For others, including younger generations struggling to afford a home, the property market’s growth spurt only widens the gap between the haves and the have-nots.

Australia’s home value growth hit the........

© The Sydney Morning Herald