Wage growth is making "glacial gains" since bottoming out in 2016
Deloitte's outlook found wages growth "bottomed out" in 2016 and since then had been making "glacial gains".
Mr Richardson said while we've gone through a long period of low interest rates and low wage growth, both measures would start to noticeably creep up.
"We'll go from a phase in which wage growth has been bad news and interest rates have been good news," he said.
Mr Richardson tips the Reserve Bank won't raise official interest rates until late 2019, and even then it will be incremental to offer some protections against families that have taken on a lot of debt.