Lab Housing Policy and Negative Gearing, page-99

Blaming Morrison the housing bubble is drawing an extremely long bow there Scott.

The impact of COVID had much more to do with house price increases during the Morrison government than anything else.
People stopped travelling etc & so accumulated elevated levels of disposable wealth enabling more second homes to be purchased.
People moved from the capital cities to regional areas with big housing supply shortages.
People decided to stop rental shares & live individually driving up demand for rental properties, their yields & therefore their prices.

Yes Morrison's policies increased the cost of building new homes but that was only a small part of it.