"The Albanese government needs to stop high-fiving falling house prices, because they're sending first home buyers and Australian families into negative equity", said Shadow Treasurer, Tim Wilson.
Mr Wilson's comments come as new PropTrack analysis confirms $230 billion has been wiped from Australia's property market in just four months, with property values falling from $12.77 trillion to $12.54 trillion since Labor's tax changes, global turmoil and interest rate rises began to bite.
"It's clear that the Albanese government doesn't understand that they're deliberately crashing Australians' wealth", Mr Wilson said.
"Yesterday, Albanese government Minister Matt Thistlethwaite couldn't even tell the difference between negative equity and defaulting on a mortgage on national television, and this is the government deciding the fate of Australians' biggest asset".
"First the Albanese government came for the savings of retirees, then they came for the equity of small business owners, then the wealth of families, and now they're coming for the hopes of first home buyers".
"Their own 5 per cent deposit scheme has loaded first home buyers up with government-guaranteed debt right as they've crashed confidence in the property market, and now those same Australians are being walked into negative equity by the government's own design".
"This isn't a fundamental problem with real estate, it's a sentiment of fear created by an Albanese government that thinks smashing the value of Australians' homes is somehow a win".
"Taxpayers are now on the hook for $11 billion in liability because Labor's scheme has more than quintupled since they came to office, while almost 60 per cent of new entrants are borrowing more than 94 per cent of the purchase price".
"The Albanese government should stop treating a housing wealth wipe-out as some kind of victory lap and start taking responsibility for a crisis of confidence they created".
