Scott Morrison, Budget 2022: PM argues buying first house was hard when he, Jenny were young

Scott Morrison tried to brush aside questions about Australia's worsening housing unaffordability situation by claiming buying your first home has 'always' been difficult - including for him. Prime Minister Scott Morrison and his wife Jenny in November 1995 bought their first home under their own names, this California bungalow on Lugar Brae Avenue, a stone's throw from his parents' house on Evans Street where he grew up The two-bedroom duplex set them back $330,000, which when adjusted for inflation is about $635,000 - a far cry from what a starter home in the sought-after suburb would cost today Scott and Jenny Morrison, who married in 1990, got their first home, an apartment in a 1960s-era block on Pacific Street, in 1995 bought through a company trust, having rented since he moved out of home aged 24 Mr Morrison initially rented after he moved out of home aged 24. In 2006 the Morrisons rented it out for $660 a week while living elsewhere, Mr Morrison having been elected to the seat of Cook By the time they sold it in June 2009 the price had ballooned to $985,000 - about $1.32 million in today's dollars Ms Morrison also bought a holiday home in Blackheath, in the Blue Mountains, for 2003 for $325,000 The offloaded it in 2009 for $347,000 - a loss of about $37,000 after inflation, calling it their worst financial mistake ever Australian house price rises during the past year SYDNEY: Up 26 per cent to $1,410,128 MELBOURNE: Up 15 per cent to $998,356 BRISBANE: Up 32.8 per cent to $828,175 ADELAIDE: Up 28.3 per cent to $648,418 PERTH: Up 8.7 per cent to $559,837 HOBART: Up 25.1 per cent to $781,069 DARWIN: Up 8.3 per cent to $569,928 CANBERRA: Up 25.4 per cent to $1,031,410 Source: CoreLogic increases in year to February 2022 for median house prices Ms Morrison also bought a holiday home in Blackheath, in the Blue Mountains, for 2003 for $325,000, and offloaded it in 2009 for $347,000 - a loss of about $37,000 after inflation. The Morrisons bought their best-known home - a three-bedroom, two-bathroom house in Port Hacking for $920,000 in July 2009, the year their eldest daughter turned two The house features polished floors and an unusual pine ceiling over the main living area, along with a pool, covering 696sqm It is several blocks away from Dolans Bay, west of Cronulla Beach, and across the water from Royal National Park, a popular camping and hiking area Why was Scott Morrison asked where you could buy a $750,000 home? Sydney's median house prices during the past year surged by 26 per cent, more than 10 times Australia's 2.3 per cent wage price index.