Monday 16 May 2022 03:34 AM Scott Morrison's minister Jane Hume concedes super policy will drive up house ... trends now

Superannuation Minister Jane Hume has admitted that Aussie house prices will jump up 'temporarily' as a result of the government's new home buyer scheme.

The proposal - which will go into effect should Prime Minister Scott Morrison win the Federal election - will let prospective first home buyers to access their superannuation and put up to $50,000 of it towards a deposit for a property. 

During an interview with ABC Radio National presenter Patricia Karvelas, Senator Hume conceded the move will cause house prices to increase.

'We know people will bring forward some of their decisions to buy a house earlier and for that reason it will probably bring up housing prices temporarily,' the Senator said. 

Karvelas quizzed Ms Hume on how much prices were expected to increase.

'PK (Karvelas' nickname), you know that there are too many factors that play into the prices of housing temporarily and permanently,' the Liberal politician responded.

Later in the morning, Mr Morrison hosed down Ms Hume's gaffe - insisting that it wouldn't raise prices.

He told reporters during a press conference in Ipswich that the government's scheme would work in combination with separate announcements to increase housing supply.

'The number one issue that forces up housing prices in this country is insufficient supply and this policy with the downsizing policy, the HomeBuilder policy, have all been about increasing that supply,' he said.

Mr Morrison claimed that anyone opposing his housing plan did so because they don't see superannuation as people's own money.

'Our plan is about putting Australians in charge of their future with their own money,' he said.