Keith Wolahan (Menzies, Liberal Party) Share this | Hansard source

I acknowledge I'm not on the list; the member for Kennedy is. I think it's only fair that I channel him just for a few moments while the minister is here! He hasn't sent me the talking points, but I would have loved to have heard what he had to say on this issue. While the minister is here, I would like the opportunity to briefly address this topic of homeownership. It is one that is becoming increasingly important in our country, particularly for those who are in suburban seats, because the cost of housing is becoming prohibitive. What we know is that, when we look at the median wage of Australians—not just the average, but the median wage—it is becoming out of reach for Australians to afford a home of their own. Many Australians will say: 'Of course, very few people buy a house on their own. They're part of a household. Couples usually buy a house.' That's true. So let's take the median wage, which is halfway. If we had 10 Australians, it's the person in the middle. There are two of them together looking to buy a house. In metropolitan Melbourne, where my seat is, there are 354 suburbs. What we know is that a household that is a couple on the median wage looking to buy the median house can afford zero—none of those suburbs. They're completely priced out. Then you would say, 'Manage your expectations. What about a unit?' and it is 15 out of 354 suburbs that are open to that household.

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