PHOTO: Housing Minister Michael Sukkar.

The housing and real estate industries have backed Michael Sukkar’s call for first-home buyers to snap up a property now if they can, saying housing affordability is “extremely favourable”, as Labor attacked the new Housing Minister for “acting like real estate agents”.

Mr Sukkar said it was worth getting a foot in the market “if you’ve got an opportunity” before the Morrison government’s First Home Loan Deposit Scheme takes effect on January 1, because he believed the market was starting to improve.

“Peopl­e who buy now, I don’t think will regret it at all,” Mr Sukkar told The Australian.

The Housing Industry Association, said Mr Sukkar was simply stating “what is the environment at the moment”.