Property owners may think rising house prices are a good idea, but a new poll finds it's not so for the average Australian and definitely not for first homebuyers.
An Essential Research online poll taken in the week Treasurer Joe Hockey advised potential first home buyers in Sydney to "get a good job that pays good money" asked 1020 people their view on the effect of rising prices on different demographics.
The poll found about half of respondents unsurprisingly said rising prices were good for home buyers and investors.
But three-quarters thought they were bad for new buyers and over half said they were bad for the average person, while more than a third said they were bad for the economy.
Prime Minister Tony Abbott believes there needs to be an increase in housing supply, arguing red and green tape was "literally killing people" trying to enter the market.
But "mucking around" with negative gearing was not the answer to easing housing affordability because it would increase rents, he told radio 2GB on Thursday.
But he also argued it is not impossible for Australians to get a deposit for their first home while, for instance, paying off university debts.
One of his three daughters had been able to enter the Canberra market, yet the other two were finding it "daunting".
"It's not impossible because remarkably a lot of people do it (but) it's not easy, no doubt about that," he said.
The federal opposition is preparing to take policies to help housing affordability to the next election.
The Labor-aligned McKell Institute has proposed limiting negative gearing to new properties, helping to drive residential construction and return nearly $30 billion to the federal budget over 10 years.
Shadow treasurer Chris Bowen would not be drawn on the proposal, saying it was sensible to methodically consider all the options in light of fiscal challenges and concerns about housing affordability.
When asked whether those were simply weasel words, Mr Bowen told ABC radio: "We're taking the responsible approach here, unlike the government which is just lecturing people, insulting people and not really with the real issue."
Mr Hockey has come under a separate attack for his use of a parliamentary allowance to help fund the purchase of a Canberra residence owned by his wife.
Although he has legally claimed more than $100,000 in parliamentary allowances to rent the house, independent senator Nick Xenophon says arrangements like that should be more transparent.