QUESTIONS WITHOUT NOTICE
Ms O'NEIL (Hotham—Minister for Housing, Minister for Homelessness and Minister for Cities) (14:26): Let me first start by saying that that is a characteristically dishonest representation of what I said in question time yesterday. Opposition members interjecting— Ms O'NEIL: I'd just point out to those opposite that if you can't— Mr Chester interjecting— The SPEAKER: Order!
The member for Gippsland will leave the chamber under 94(a). The member for Gippsland then left the chamber. The SPEAKER: This continual rudeness will not be tolerated in this House.
This non-stop interjecting and sledging is not acceptable. Ms O'NEIL: I'd say to those opposite that if you can't win a political debate without misrepresenting the position of the people that you're arguing with, then you don't have a very good argument. That's just a hot tip on how arguments work.
Opposition members interjecting— The SPEAKER: Order! The Leader of the Opposition. Order!
Everyone's just not going to continue to behave like that. Please, assist the House. Show some respect.
I want the minister to return to the question and I want the House to hear her answer. Ms O'NEIL: I talked to the parliament yesterday about what has happened to our housing market in this country since John Howard and Peter Costello reshaped our market in favour of investors over first home buyers. So let me take the parliament through it again.
What we saw was investors flooding into the market, purchasing 80 to 90 per cent of existing Australian properties, and the consequences of that are not altogether surprising. What they have seen is a 400 per cent increase in house prices in the last 25 years. Now, those opposite may think that a 400 per cent increase in house prices is a sustainable and good thing for the country.
But let me be clear with you: the result of that is that homeownership rates for the young people of this country are falling through the floor. A low-income young couple in this country is half as likely to own their own home today as they were in the year that I was born. Mr Littleproud interjecting— The SPEAKER: Order!
The member for Maranoa will cease interjecting or be warned, and he won't be here for the remainder of the answer. No more interjections! Ms O'NEIL: I'm not surprised that those opposite don't want to see change in this system, though I do want to point out some inconsistency.
It sounds like the member for Goldstein is advocating for another 400 per cent increase in house prices, perhaps another halving of the homeownership rate for young people. I would point out to him that his colleague and friend, the shadow housing spokesperson, Andrew Bragg, has made quite clear his views that he wants house prices right around the country to decline.
It's not surprising to see more chaos and more 'crazy' over there as they try to sort out their position. They may still be sorting out what they think should happen with housing in this country. We've got a really clear view.
We want a fair and equitable housing market in this country, and that means putting first home buyers on an even keel with investors. If those opposite have a different view, they'll have the chance to state that again when they vote on the legislation this afternoon.