Australia news live: housing market slows but rents surge; Penny Wong hails South Korea energy pact

Advertised prices for new rental listings rising at fastest pace since October 2024. Follow updates

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Australia’s housing market is at its slowest for almost 18 months as buyers stick to cheaper properties and abandon interest in the top end of the market.

Figures today from the data firm Cotality show Melbourne and Sydney house prices fell 0.6% in April. Melbourne’s home values have now fallen 1.9% since November, with Sydney’s down 1%.