Scott Morrison calls on states to help ease property prices

Home ownership is widely considered to be every Australian's dream. But for many, it's becoming just that, a dream. A feature presented by Anita Barar

Crowds gather outside an residential auction in Sydney’s inner west Source: AAP

The federal government has conceded that many Australians are struggling to buy their first home.

 

Treasurer Scott Morrison says increasing the supply may help bring down house prices.

He says the proportion of Australians who own their home has fallen from 71 percent to 67 percent over the last 20 years.

 

Mr Morrison says home ownership has declined, especially for young people.

 

According to Scott Morrison, capital city prices have grown more rapidly than in the rest of the country.

 

Mr Morrison says Sydney price growth has been greater than all the other capitals followed closely by Melbourne.

 

He says in Sydney and Melbourne, prices have risen around 65 per cent and 40 per cent respectively since 2012.

 

 

Scott Morrison says housing affordability is a complex issue and the Turnbull government intends to spend a lot of time getting the right policies in place.

 

Mr Morrison has called for states and territories to make home ownership more attainable. But Labor leader Bill Shorten says the government is passing the issue on to the states. And Greens leader, Richard Di Natale, too agrees with Mr. Shorten..