Kim Carr (Victoria, Australian Labor Party, Shadow Minister for Housing and Urban Development) Share this | Hansard source

My question without notice is to Senator Minchin, the Minister representing the Prime Minister. I again refer the minister to the growing community concern that young Australian families now find it harder than ever to buy their first home. Is the minister aware that yet another report was released yesterday highlighting the difficulties faced by young Australians trying to buy a house? Doesn’t that ABS Housing finance report show that the proportion of first home buyers in the market fell to a mere 16.1 per cent in August, the lowest level in 18 months and a full four percentage points below the long-run average? Haven’t the commentators from the ANZ, the Housing Industry Association and the Macquarie Bank been unanimous in blaming this on interest rate hikes in May and August? What is the minister’s explanation for why so many young couples and families are unable to buy their own homes under the Howard government?