Prices are falling, but the government is reluctant to claim the credit. So its MPs have resorted to rhetoric about renewed optimism for first home buyers.

Labor wants to have a bet each way on house price falls. But if price declines continue – and they will – the political pain will build as the economy slows.

Prices are falling, but the government is reluctant to claim the credit. So its MPs have resorted to rhetoric about renewed optimism for first home buyers.