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12.43pm
Heed of Australia’s homes exceeds $10 trillion for the first timeBy Rachel ClunThe blended impress of Australian homes has exceeded $10 trillion for the first time, with prices rising by almost a third in some capital cities and regional areas.
Data from the Australian Bureau of Statistics presentations the total impress of Australia’s 10.8 million residential properties elevated by $221 billion within the first three months of the 300 and sixty five days.
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Over the 300 and sixty five days to March, the total impress of homes swelled by $1.8 trillion to $10.2 trillion. The national median dwelling impress is now $941,000.
NSW accounts for just correct over 40 per cent of the total impress of homes, at $4.1 trillion, adopted by Victoria with $2.7 trillion and Queensland with $1.7 trillion.
ABS head of impress statistics Michelle Marquardt mentioned regional impress boost in NSW and Victoria has grown faster than within the capital cities.
“All the intention in which by intention of the last 300 and sixty five days, boost in median prices in regional NSW and Victoria has outpaced boost in their capital cities for both homes and connected dwellings,” she mentioned.
The median condominium impress in Sydney rose 16.4 per cent to $1.25 million while in Melbourne, it rose by 9.4 per cent to $930,000 over the 12 months to March.
In the identical time, the median condominium impress in regional NSW jumped 29.1 per cent to $800,300, and in regional Victoria the median condominium impress rose 17.4 per cent to $640,000.
Brisbane saw the largest capital metropolis impress upward thrust, with the median condominium impress growing 29.3 per cent over the 300 and sixty five days to March to $787,500, adopted by Canberra, the build condominium values rose 28.3 per cent over that length to $1.07 million.
Perth skilled the slowest boost, with median homes prices increasing 1.9 per cent to $550,000.
Tasmania saw the largest soar in regional condominium prices, with values increasing 30 per cent over the 300 and sixty five days to $520,000.
12.38pm
On excessive alert: Markets a sea of crimson as they stay up for the giant revealBy Stephen BartholomeuszOpinion: There used to be mayhem in offshore markets as the corpulent implications of Friday’s unpleasant US inflation numbers and the probably response of the Federal Reserve Board sank in. There’ll now be a anxious couple of days as investors wait to survey what the Fed in fact does later this week.
The US market and, indeed, the realm equity market are now formally in endure markets – a plunge of 20 per cent or extra.
The US sharemarket has fallen 21.8 per cent from its peak in early January, with the tech-heavy Nasdaq index now almost 33 per cent off the fable stage reached last November and the giant tech index – the “FANG” index, containing shares akin to Apple, Meta, Google et al – has lost better than 40 per cent of its impress over the identical length.
Wall Avenue’s benchmark index formally fell staunch into a endure market on Monday in Fresh York.Credit ranking:AP
The index of world equity markets, the MSCI ACWI index, has also fallen 21 per cent since November though the ASX, with out the heavy tech bias of the US market, used to be sooner than trading began on Tuesday down handiest about 10 per cent from its highs of last August.
The US sharemarket bloodbath – the S&P500 fell 3.9 per cent, Nasdaq 4.7 per cent and the FANG index 6.5 per cent on Monday – used to be mirrored within the crypto market, with the market capitalisation of all crypto shares falling below $US970 billion ($1.58 trillion). Last November, that market used to be valued at just correct below $US3 trillion. Bitcoin, which traded discontinuance to $US70,000 last 300 and sixty five days, fell below $US23,000.
The bond market used to be also buffeted by the pessimism, with the yields on two-300 and sixty five days notes, at 3.38 per cent, the absolute most lifelike since 2007. The yield on 10-300 and sixty five days bonds, at 3.37 per cent, used to be its absolute most lifelike since 2011.
Parts of the yield curve rapidly inverted, signalling the likelihood of recession.
Offshore yields in Europe also spiked, with Italy’s 10-300 and sixty five days bond price bursting by intention of 4 per cent for the first time since 2014 – when there used to be serious dialogue about Italy exiting the eurozone – and Greek bond yields hitting 4.48 per cent.
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12.26pm
Vitality disaster the ‘utter results of a decade of neglect’: AlbaneseBy Katina CurtisOn the vitality disaster that’s unfolding in Queensland and NSW this week, Prime Minister Anthony Albanese mentioned there used to be clearly an instantaneous train however there had been also longer-term complications that his executive used to be grappling with.
“It’s no longer acceptable that we possess had a executive beforehand which used to be reasonably than enterprise for 3 terms, announced 22 diversified insurance policies and didn’t land one,” he says.
“That is one among the causes there’s a fresh executive.”
He mentioned there had been specific conditions in Queensland relating to to the floods however that coal-fired energy stations had been also nearing the pause of their lifestyles and the electricity grid had no longer been made “fit-for-cause for the 21st century”, specifically in gentle of the uptake of rooftop solar.
“We now possess got an instantaneous train that the chief, AEMO and inform and territory governments are going by intention of however it completely’s a correct away results of a decade of neglect.”
Australia’s vitality market regulator has warned of energy present reserve shortfalls in Queensland and NSW between 5pm and 9pm on the present time.
The Australian Electrical energy Market Operator has issued notices to benefit extra energy generation and utter mills into the market, however if those measures are no longer ample, then blackouts in some areas are probably as a final resort.
12.19pm
‘China wants to maintain away the sanctions in role’: AlbaneseBy Katina CurtisDuring on the present time’s press convention, Prime Minister Anthony Albanese used to be asked in regards to the assembly between Defence Minister Richard Marles and his Chinese counterpart over the weekend.
Albanese mentioned it used to be a obvious step however that China have to now produce the following movement.
“It’s China that has modified the nature of the relationship,” Albanese mentioned.
“China wants to maintain away the sanctions in role. There’s no reason within the benefit of them to be there.”
12.07pm
‘Coffee can handiest recede to this point’, says Albanese after Socceroos snatch By Katina CurtisPrime Minister Anthony Albanese is addressing media on the improvement build of a fresh primitive care facility in Brisbane.
He congratulated the Socceroos on their early morning victory and mentioned he used to be waiting for watching them within the World Cup.
The delighted scenes within the Socceroos’ dressing room.Credit ranking:Getty
And while Albanese didn’t recede as a ways as to quote Bob Hawke’s indecent The United States’s Cup feedback to bosses (“I’ll impart you what … any boss who sacks someone on the present time for no longer turning up is a bum”), he did jog Australian employers to movement easy on drained workers on the present time.
“If someone’s having a chunk kip within the nook, it’s understandable because within the event that they’ve been up since 4 o’clock watching by intention of … after which celebrating afterwards, it’s understandable that espresso can handiest recede to this point,” Albanese mentioned.
11.54am
Critical particular person’s legal professionals insist it wasn’t correct for licence, however it completely is nowBy Lucy CormackLawyers for Critical particular person Entertainment Group possess conceded the on line casino used to be no longer correct to possess interplay a licence when a public inquiry began in March, however insist the industry has since sent a “extremely effective message” with a mass graceful-out of senior executives.
Critical particular person’s barrister Kate Richardson, SC, mentioned on Monday that evidence to the on line casino licence inquiry had exposed major failings and fallacious conduct by senior workers.
“The Critical particular person accepts that evidence intention it’s a ways open for the review to possess interplay out that as on the commencement of the review, The Critical particular person used to be no longer an right particular person to possess interplay a on line casino licence,” she mentioned.
Barrister for The Critical particular person Kate Richardson, SC.
“Then once more, The Critical particular person respectfully submits that the review will possess to light elevate out that it’s a ways within the within the period in-between correct to possess interplay the on line casino licence.”
The public inquiry sooner than Adam Bell, SC, heard arguments the on line casino used to be no longer fit to possess interplay a licence amid allegations of money laundering, links to organised crime and fraud on the Pyrmont on line casino.
Over eight weeks it heard evidence from senior executives and directors, who had been tested on allegations of misleading conduct, a failure to possess interplay a watch on anti-money laundering dangers and turning a blind be taught about to criminal links of VIP junkets.
Evidence presented to the inquiry steered Critical particular person disguised $900 million price of Chinese debit card gambling transactions as resort expenses after which lied to banks to disguise the giant fraud.
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11.51am
COVID is making flu and other identical old viruses act in queer waysBy Frances Stead SellersWashington: At one point last month, kids had been admitted to Yale Fresh Haven Kids’s Sanatorium with a startling range of seven respiratory viruses.
They’d adenovirus and rhinovirus, respiratory syncytial virus and human metapneumovirus, influenza and parainfluenza, as successfully as the coronavirus – which many experts insist is accountable for the irregular surges.
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“That’s no longer traditional for any time of 300 and sixty five days and positively no longer traditional in Would possibly presumably possibly presumably just and June,” mentioned Thomas Murray, an infection-have interaction a watch on expert and partner professor of pediatrics at Yale. Some kids admitted to the successfully being facility had been co-contaminated with two viruses and some with three, he mentioned.
Extra than two years into the coronavirus pandemic, acquainted viruses are performing in queer programs. Respiratory syncytial virus, is known as RSV, typically limits its suffocating assaults to the wintry climate months.
Rhinovirus, reason within the benefit of the identical old frigid, no longer normally sends folks to the successfully being facility.
And the flu, which seemed as if it would possibly possibly possibly be making a comeback in December after being a no-uncover the 300 and sixty five days sooner than, disappeared once more in January once the Omicron variant of the coronavirus took have interaction.
Now the flu is benefit, however the stress doesn’t possess a identical old lineage is known as Yamagata, which hasn’t been noticed since early 2020. It would possibly possibly possess gone extinct or will be lying in wait to assault our unsuspecting immune systems, researchers mentioned.
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11.35am
Seselja concedes Senate seat, announces the Liberals ‘will be benefit’By Katina CurtisZed Seselja has made a prolonged commentary on his Fb net page, reflecting on his legacy after 9 years within the Senate and congratulating Katy Gallagher and David Pocock.
He defended his possess fable, announcing he used to be “proud to battle for both conservative and liberal principles” all the intention in which by intention of his time in public lifestyles, which integrated 9 years within the ACT Legislative Assembly sooner than he entered federal politics.
“There are some who argue that I will possess to light possess abandoned most of those values as a technique to understand extra votes,” he mentioned.
Extinct Liberal minister Zed Seselja will be modified within the Senate by frail rugby union immense David Pocock.Credit ranking:Alex Ellinghausen
“These critics ignore the truth that at this election those in my celebration in identical seats who had very diversified views to mine nonetheless suffered powerful better swings than what came about within the ACT. They ignore the truth that below my management the Liberal Birthday celebration gained the most seats within the ACT Assembly in its historic past.
“But most considerably, following this prescription of rolling over to the left would had been both unfriendly in precept and in a roundabout intention futile electorally. In political lifestyles we have to come up for values and principles. It’s no longer repeatedly easy to withstand the Labor/Inexperienced Left in Canberra however it completely’s critical that there is a political movement which does.”
Seselja mentioned he had self belief that fresh federal Liberal leader Peter Dutton would rapidly restore the celebration’s fortunes.
And he mentioned he knew that for Liberal supporters, the inability of executive and the inability of the ACT Senate seat used to be “a bitter blow”.
“I also know that in politics, things alternate very rapidly. Participants will write off the Liberal Birthday celebration as they did in 2007, however we would be benefit right here within the ACT and nationally,” he mentioned.
11.25am
All it be critical to know in regards to the Socceroos and the World CupBy Caden HelmersA courageous hand will ship Australia to its fifth successive World Cup finals appearance with a daring movement from coach Graham Arnold now etched into Socceroos folklore.
The resolution to ship replace goalkeeper Andrew Redmayne into the fray with an be taught about on a penalty shootout insecure followers, however the movement paid off when he dived to his factual to ship the Socceroos to Qatar 2022 with a snatch over Peru.
The Socceroos possess now reach possess the benefit of the brink to qualify for this 300 and sixty five days’s World Cup. Arnold has so on the total emphasised the need for “Aussie DNA” – tempo, energy and physicality – and his side will need every bit of it after they return to Qatar later this 300 and sixty five days.
Right here is the entirety it be critical to know sooner than this 300 and sixty five days’s tournament, from the gamers to be conscious to kick-off instances and who’s favoured to understand all of it.
11.06am
Gaze stay: Prime Minister Anthony AlbanesePrime Minister Anthony Albanese used to be because of address the media in Brisbane at 11.10 am however is clearly operating a chunk late. That you just would possibly possibly presumably also watch it stay right here.
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