Treasurer Joe Hockey
Treasurer Joe Hockey ALAN PORRITT

Joe Hockey tells home buyers to get a job that pays well

TREASURER Joe Hockey has a piece of advice for first home buyers: get a "good job that pays good money", if they want to own a house.

Mr Hockey made the comment in Sydney on Tuesday, after the Greens released modelling showing the government could save $3 billion by ditching negative gearing.

Despite reports of a housing bubble in Sydney and increasingly unaffordable housing, Mr Hockey said if housing in the New South Wales capital was unaffordable "no one would be buying it".

"There are a range of incentives put in place by state governments for first home buyers, but the starting point for a first home buyer is to get a good job that pays good money," he said. But Mr Hockey made no comment about the 15% rise in Sydney house prices in the past 12 months, a period when wages rose less than 3%.

Labor leader Bill Shorten seized on the comment, saying it was "proof" Mr Hockey did not understand the pressure facing families.

'Lend us a lifeline': Plea for collapsed industry

premium_icon 'Lend us a lifeline': Plea for collapsed industry

First of three hearings for an inquiry into the industry was today.

'Disgraceful mess': landlord's cautionary tale

premium_icon 'Disgraceful mess': landlord's cautionary tale

"There were four wrecked cars down there."