Q: On your lending for policy for both homebuyers, what kind of buffer percentagewise do you think is acceptable, 3%?

Dutton:

Ultimately it is a decision for APRA but our position is to make sure that you can get into housing as quickly as possible. That is the first principle. Why are we making announcement? I want young Australians to achieve the dream of home ownership that is managed under the Albanese government. We think potential arrangements are in place at the moment that are too difficult for young homebuyers. I’ve made this point many times but I’m not going to be a prime minister as Mr Albanese is that is happy with the housing market were only those kids with a Bank of Mum and Dad can buy a home. That is not my dream for our country, my dream is to help a young Australian into a house to achieve the dream of home ownership and we do that through a number of measures. Our $5 billion plan to help infrastructure and that will create 500,000 new homes, to put the 2-year ban in place for foreign buyers and also make sure we have a well-managed migration program and to make sure we can help younger Australians.

This announcement would only send housing prices even higher, because suddenly you’ll have a whole heap more people able to borrow.

Also the lending criteria was cut because of the horror stories during the banking royal commission, which showed the trouble people got in and the potential for a housing bubble