Mr MILLS - 2010-05-05
You have reaffirmed to this parliament that you believe house prices in the Territory are moderating. The NT Treasury website shows the annual House Price Index for the March 2008 quarter recorded a 5% increase in the established price index. The March quarter for 2009 shows a 10.8% increase; and, the March quarter for 2010 shows a 17.5% increase in the established price index. How can you claim a jump from 4.9% to 17.5% is moderation?
ANSWER
Madam Speaker, I welcome the question from the Leader of the Opposition. I have the March quarter figures here, which I said I would table, they are the annual changes. We used to be top of the pack in terms of the annual house price rises, but when I talk about how we have moderated and slipped down to the middle of the pack, we now have Melbourne leading the pack at a plus 27.7% increase, followed by Sydney at a 21% increase, followed by Canberra at a 20.6% increase, and then Darwin comes in …
Members interjecting.
Madam SPEAKER: Order!
Ms LAWRIE: … at 17.5%. The other furphy that the …
Mr ELFERINK: A point of order, Madam Speaker! The question was specifically in relation to three March quarters’ comparators for Darwin. It had nothing to do with Melbourne or Sydney. I ask that she comes to the point of the question.
Ms LAWRIE: Madam Speaker, he asked me about my question in terms of the March quarter and I am reading them out.
Madam SPEAKER: Treasurer, if you can come to the point that would be good.
Ms LAWRIE: Madam Speaker, he also said that there are no houses being built and all of that, well, year on year growth …
Mr MILLS: A point of order, Madam Speaker! My question was very specific with regard to the issue of moderation. Is an increase moderating or not?
Madam SPEAKER: Treasurer, if you can come to the point.
Ms LAWRIE: As I did say in my previous answer, the rate of growth is moderating. Yes, we are still seeing a strong housing market and, yes, this government is responding to the strength in the housing market. You want some strength in there, but you want to ease back on those growth pressures which we have seen, and we are seeing an easing back on the growth pressures, which is what I was talking about in the previous answer. We have gone from the top of the growth pack to the middle of the growth pack. We are putting land release as a key priority for this government in getting land out the door for people to purchase new homes. We have put tax cuts in there in the budget as well, making it more affordable for families to come in.
We have come in place with an affordable housing policy, we are building public housing, some 336 homes. They would like us to think that there is nothing happening in housing across the Territory. Well, year on year growth for housing approvals, in the private sector, 30.4% growth; and public, 128% growth - year on year, housing approval figures.
ANSWER
Madam Speaker, I welcome the question from the Leader of the Opposition. I have the March quarter figures here, which I said I would table, they are the annual changes. We used to be top of the pack in terms of the annual house price rises, but when I talk about how we have moderated and slipped down to the middle of the pack, we now have Melbourne leading the pack at a plus 27.7% increase, followed by Sydney at a 21% increase, followed by Canberra at a 20.6% increase, and then Darwin comes in …
Members interjecting.
Madam SPEAKER: Order!
Ms LAWRIE: … at 17.5%. The other furphy that the …
Mr ELFERINK: A point of order, Madam Speaker! The question was specifically in relation to three March quarters’ comparators for Darwin. It had nothing to do with Melbourne or Sydney. I ask that she comes to the point of the question.
Ms LAWRIE: Madam Speaker, he asked me about my question in terms of the March quarter and I am reading them out.
Madam SPEAKER: Treasurer, if you can come to the point that would be good.
Ms LAWRIE: Madam Speaker, he also said that there are no houses being built and all of that, well, year on year growth …
Mr MILLS: A point of order, Madam Speaker! My question was very specific with regard to the issue of moderation. Is an increase moderating or not?
Madam SPEAKER: Treasurer, if you can come to the point.
Ms LAWRIE: As I did say in my previous answer, the rate of growth is moderating. Yes, we are still seeing a strong housing market and, yes, this government is responding to the strength in the housing market. You want some strength in there, but you want to ease back on those growth pressures which we have seen, and we are seeing an easing back on the growth pressures, which is what I was talking about in the previous answer. We have gone from the top of the growth pack to the middle of the growth pack. We are putting land release as a key priority for this government in getting land out the door for people to purchase new homes. We have put tax cuts in there in the budget as well, making it more affordable for families to come in.
We have come in place with an affordable housing policy, we are building public housing, some 336 homes. They would like us to think that there is nothing happening in housing across the Territory. Well, year on year growth for housing approvals, in the private sector, 30.4% growth; and public, 128% growth - year on year, housing approval figures.
Last updated: 09 Aug 2016