QUESTIONS WITHOUT NOTICE

Ms O'NEIL (Hotham—Minister for Housing, Minister for Homelessness and Minister for Cities) (14:00): The Leader of the Opposition is asking about the house price impacts of the budget. We covered this matter in some detail yesterday, but let me go through it again for those who are a little bit slower off the uptake. Firstly, legislation passed the parliament last week which does two really important things.

It delivers a tax cut for every single one of Australia's 13 million workers and it delivers for the first time a level playing field for our nation's first home buyers. That's going to get 75,000 Australians who are today stuck in renting into the home of their own that they deserve. Now, house prices in Australia, according to Treasury, will continue to grow over time but a little bit more slowly than they otherwise would have.

I think those opposite surely have availed themselves of the information about the Treasury modelling that suggests a slower rate of growth of about two percentage points. That ballpark figure is backed up by other major models, including that of the Commonwealth Bank and the Grattan Institute. I say again that we had this conversation in the parliament yesterday, but it's pretty clear where the Labor Party stands on this.

We support first home buyers. We support them through the five per cent deposit program, we support them through Help to Buy and we support them by providing for the first time a fair go at winning an auction that they deserve.