The Prime Minister said he wants housing to be affordable but also wants house prices to be increasing modestly. He said it was important to have a strong economy, that people have as many resources at their disposal as possible – such as jobs – and can afford to buy a home.

The best way to make housing more affordable is to keep interest rates low and stable, he said. “As someone who, along with a bank, owns a house in Sydney I do hope that our housing prices are increasing,” Abbott said.