THIS is the “extraordinary” comment from our Prime Minister that is likely to enrage people struggling to buy their first home.

Tony Abbott has dismissed concerns about out-of-control property prices in Sydney and Melbourne and instead said that he hopes prices will continue to rise.

“As someone who, along with a bank, owns a house in Sydney, I do hope that our housing prices are increasing,” Mr Abbott told Parliament today.

“I do want housing to be affordable, but nevertheless I also want house prices to be modestly increasing.

“Madam Speaker, the important thing is to ensure that our economy is as strong as possible so that people have as much resources at their disposal as possible, have jobs, so that they can go out there and buy the things they need including the housing that they need.

“This government is trying to make housing more available, we’ve tried to make housing more affordable, and the best way to make housing more affordable is to keep interest rates low and stable and that’s exactly what’s happening and trying to make sure the economy is strong.”

Mr Abbott was responding to a comment from Treasury boss John Fraser, who expressed his concern in a Senate hearing today that Australia’s record-low interest rates were encouraging people to “over-invest” in housing, causing a property bubble.

Labor’s Andrew Giles was among the MPs to slam Mr Abbott’s comments, saying they were “extraordinary”.

Prime Minister demonstrating his complete lack of interest in housing affordability, save for his own house price. Extraordinary #qt — Andrew Giles MP (@andrewjgiles) June 1, 2015