Opened the debate
Sharma argued that the housing market was deteriorating, citing significant declines in home loan applications reported by major banks. Sharma claimed that falling house prices were discouraging new construction and that rents in Sydney had risen sharply. Sharma attributed worsening productivity growth and persistent inflation to government policy, stating that real wages were declining and leaving workers financially worse off. Sharma characterised these economic conditions as intentional design features of the Labor government's approach.