Prime Minister Tony Abbott just perfectly summed up what everybody wants from the property market

Prime Minister Tony Abbott during question time. Stefan Postles/Getty Images

Prime Minister Tony Abbott, like most home owners, wants housing prices to keep going up.

He and his wife, Margie, have a house in Sydney where prices have led the nation, rising 15% over the last 12 months.

Abbott was responding in Parliament to a question from Opposition leader Bill Shorten who referred to Treasury head John Fraser’s comments today that housing prices in Sydney had become a bubble.

Abbott replied:

“As someone who, along with the bank, owns a house in Sydney I do hope our housing prices are increasing. I want housing to be affordable but nevertheless, I also want house prices to be modestly increasing.”

Having affordable housing is the Goldilocks point for any economy.

Abbott said it was important to ensure the economy is as strong as possible.

Earlier, Treasury secretary Fraser told a Senate Estimates Committee hearing that low interest rates had led to over investment in housing.

The regulators also have taken steps to restrict lending for investment properties.

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