STATEMENTS BY MEMBERS

Mr WALLACE (Fisher) (13:45): The economic geniuses in the Labor Party never cease to amaze me because not only have they driven rents up for so many Australians but they've made housing much more expensive and the number of homes that are now being built is actually less than 35,000 less according to their own budget papers. What we're seeing in the marketplace is absolute pandemonium.

We're seeing total lack of confidence. In Brisbane we're seeing auction clearance rates of less than 50 per cent. People are speaking with their feet.

Young potential homeowners, first homeowners, are putting their hands in their pockets. They don't want to catch a falling knife in a falling market. Fair enough.

Not only are those economic geniuses opposite driving rents higher and the value of homes lower but Australians now are voting with their feet, and we're just not seeing the real estate sector moving. That means builders losing jobs. There are so many Australians who are doing it tough because of this government's— (Time expired)