John Howard (Bennelong, Liberal Party, Prime Minister) Share this | Hansard source

Between 1973 and 2003 housing affordability declined because over that period of time the cost of land rose by 700 per cent. The member for Banks has asked a question about a very important issue, and that is housing affordability for young Australians. I am glad he asked it because the reason, more than anything else, why it is hard for young people to buy their first home is that the price of land in outer metropolitan areas of Australia has gone up. In Sydney it has gone up by 700 per cent.

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