House debates Questions without Notice
House Prices
Wayne Swan Lilley, Australian Labor Party, Shadow Treasurer
2:33 pm
My question is to the Prime Minister. Can the Prime Minister explain to homeowners in western suburbs of Sydney, the eastern suburbs of Melbourne and the northern suburbs of Brisbane what the impact on house prices would be of large-scale land releases?
David Hawker Speaker
That question is almost asking for an opinion, but the Prime Minister may answer it.
John Howard Bennelong, Liberal Party, Prime Minister
Over a period of time, it is a matter of logic that the greater the supply the more the demand is met. Over a period of time, it would become more affordable.
Wayne Swan Lilley, Australian Labor Party, Shadow Treasurer
Mr Swan interjecting
David Hawker Speaker
Order! The member for Lilley has asked his question.
John Howard Bennelong, Liberal Party, Prime Minister
Of course it would. This is very interesting, because the logic of what the member for Lilley is saying is: ‘You don’t have any new land releases and you drive the price of housing up even more.’ That is what the member for Lilley is saying. While I am on my feet, I have come across something that is very interesting—
Julia Gillard Lalor, Australian Labor Party, Shadow Minister for Health and Manager of Opposition Business in the House
In any way related to the question?
John Howard Bennelong, Liberal Party, Prime Minister
It is very related to the question. I really should have remembered this when I answered the question from the member for Banks. He once had a job on the opposition frontbench, and I thought it was a pity that the current opposition leader did not keep him on the frontbench.
Anthony Albanese Grayndler, Australian Labor Party, Deputy Manager of Opposition Business in the House
Mr Speaker, I rise on a point of order. It goes to relevance.
David Hawker Speaker
I have been listening carefully to the Prime Minister. I am sure that he is answering the question, but it is hard to find out what it is when he is constantly interrupted.
John Howard Bennelong, Liberal Party, Prime Minister
When addressing in his then shadow capacity a national summit on housing affordability, this is what the then opposition spokesman had to say:
We need to increase the availability of affordable land for the construction of new housing.