Australian housing prices have experienced their steepest drop since the global financial crisis, according to property analysts CoreLogic. On a national basis, property prices fell 4.8 per cent last year — driven mainly by sharp declines in Sydney (-8.9 per cent) and Melbourne (-7 per cent). The latest figures from CoreLogic show national dwelling values have slumped 5.2 per cent …

ABC Radio National presenter Patricia Karvelas was asked by an attendant to leave the press gallery during Question Time at Parliament House because she was showing “too much shoulder”. Ms Karvelas was wearing a white “half-sleeve” pantsuit, but a supervisor in the House of Representatives had deemed she was in breach of the dress standards, which dictate what MPs, their …

Labor is demanding that Prime Minister Scott Morrison extend the banking royal commission, after it handed down a scathing report that slammed the big banks for their greed. The opposition is concerned that only 27 victims had their voices heard, out of more than 9000 submissions. “This is a crucial national issue, and we want the royal commission’s report not just to …

The move by two of the big six home lenders, as well as a second-tier outfit, to raise rates was simultaneously expected and unusual. The banks and economic commentators had been warning borrowers for months about rising rates overseas inevitably driving up rates in Australia. Westpac and Suncorp delivered 0.14 and 0.17 percentage point increases respectively within days of each …

US Defence Secretary James Mattis has raised the prospect of additional American steps against China if its “militarisation” of the South China Sea keeps apace. Mr Mattis said Beijing was intimidating and coercing others in the region by putting weapons systems on manmade islands. US President Donald Trump, backing the remarks by his Pentagon chief at an international security forum …

he row over whether driverless cars will ever be able to take the wheel from humans may have finally turned a corner. Engineers have developed a new super-sensitive laser technique which can be mounted on cars to spot upcoming hazards in an adjacent street, even when they are entirely hidden from view. The new technology would allow a driverless car …