“As someone who, along with the bank, owns a house in Sydney, I do hope our housing prices are increasing.”
In the face of a warning from Treasury that capital cities are facing a housing bubble, the prime minister has told parliament that he is happy that house prices are rising.
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His comments come just hours after the head of Treasury told Senate Estimates that he was concerned that young people in Sydney and Melbourne were being priced out of the property market due to low interest rates and rising house prices.
“House prices are high and it is and certainly in Sydney having a palpable impact on young people trying to get into the housing market, and I think that's highly, highly unfortunate,” Treasury chief John Fraser said.
“It does worry me that the very, very low, historically low levels of interest rates are encouraging people to perhaps over-invest in housing.”
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