According to the Australian Bureau of Statistics, Australian retails sales expanded at the fastest clip in 19 months during September. Retail sales were up 1.2% but mainly due to higher sales of electronics surging 9.2% "influenced" by the release of the iPhone 6.

As a result, sales of household goods overall enjoyed their biggest rise in over 14 years.

"It certainly gets us off to a good start," said Michel Blythe, chief economist at Commonwealth Bank.

"It does suggest whatever post-budget pullback we might have seen on the consumer side is over and demonstrates the ability of new items like the iPhone6 to kick things along."