Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Hansard source

has been lowered to 2.3 per cent. That is low growth. That is barely above inflation and that is after very strong growth last year. So we expect property prices to grow slowly this year. At this point of vulnerability in the property market, what does the Labor Party propose to do but take more than one-third of demand out of the ring. If the market is only going to grow, according to the bank, by a little bit above inflation this year, what is the impact of pulling one-third or more of demand out of the market going to be? You do not need to be a professor of economics to know that that is going to crash housing prices. Of course it will. They are attacking the largest single asset of most Australian families. (Time expired)

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