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Labor followed through with its election promise to expand the Home Guarantee Scheme earlier this year, dropping required deposits from 20 per cent.

It also fast-tracked the changes so they began on October 1 instead of January 1, 2026.

While the government has spruiked it as a major win for young Australians struggling to get a foothold in a supply-starved market, others have warned the move will push prices even higher and saddle Australians with mountainous 95 per cent mortgages.

The Prime Minister on Wednesday said the change “will have a minimal impact” on property prices.

“There will be a slight increase in prices, but already 185,000 Australians have benefited from this scheme with minimal impact on prices,” Mr Albanese told reporters in Sydney.

“Treasury did modelling – they suggest a very small increase, but what it will do is to allow more young people to get into home ownership.

“And this is just one of the measures.

“We are dealing with supply, we have that incentive for state and territory governments as well, a $3bn incentive for them to deliver more homes so that we reach our target of 1.2m homes.”

RBA governor Michele Bullock on Tuesday warned Australia’s supply problems would not see any meaningful progress for at least two years.

“I’ve said a number of times before the problem in the housing market is a structural deficit of supply,” she told reporters.

“That is the problem, and governments now get that, and you are seeing some action on that, but it’s going to be slow to work its way through.”

Pressed further, Ms Bullock said: “I’m not confident it’s going to make any impact in the next two years.”

But Mr Albanese rejected that read in his remarks on Wednesday.

He said Ms Bullock was saying “it takes time to build a home” and urged media to consider the “full suite” of policies.

Foreign Minister Penny Wong has cautioned former Victorian premier Daniel Andrews to be “mindful” about the message he sent by attending a huge military parade in Beijing earlier this week.

The Coalition has furiously criticised Mr Andrews for joining several authoritarian leaders — including Russian President Vladimir Putin and North Korean dictator Kim Jong Un — at the massive spectacle held on Wednesday to mark the defeat of Japan in World War II.

It has also pressed Prime Minister Anthony Albanese to condemn Mr Andrews, saying he assisted China’s efforts to give the spectacle international legitimacy.

When asked about the matter, Senator Wong did not directly criticise the former premier, but said all Australians needed to be “mindful” about the signals they sent by attending events.

“Obviously I speak for Australia and the Australian government, I don’t speak for private individuals,” she said.

“But I think, I hope, that we all should be mindful of the message that our presence and engagement sends.

“I certainly am.”

She also emphasised that Australia decided not to send any politicians or even its ambassador to attend the parade — in contrast to the last anniversary parade in 2015, when a Coalition government minister attended.

“I would emphasise that Australia made a decision to be represented at the embassy staff level,” Senator Wong said.

The foreign minister made the remarks alongside Defence Minister Richard Marles in Tokyo, after attending the annual 2 + 2 meeting with their Japanese counterparts.

Australia to ‘modernise’ defence force after ‘significant’ show from China

Both Australia and Japan have been deeply unnerved by China’s massive military build-up and monitored this week’s parade very closely

Mr Marles called it a “very significant display of Chinese military capability”.

He also said there was now a “greater degree of cooperation between China and Russia and North Korea” which he said was “an expression of the complex strategic landscape which we’ve now been articulating since we came to government”.

He said Australia was responding by building closer ties with partners like Japan and racing to “modernise and build our defence force”.

“Where that leads us is clearly seeing that our interest lies in ensuring that we are firstly asserting the rules-based order, and secondly, making our contribution to the peace and stability of the region in which we live,” he said.

The high-level meeting comes just a month after Australia announced it would spend $10 billion on buying Japanese-made Mogami-class frigates.

It is the biggest defence deal for Japan, which has only ever exported defence equipment, rather than platforms like tanks, fighter jets, and warships.

Mr Marles said the contract to buy the warships would be finalised early next year.

“There is a real intent on both sides to see those negotiations move forward quickly,” he said.

The first three Mogami frigates will be built in Japan to ensure quick delivery, while the remaining eight will be made in Australia.

Mr Marles stressed the Mogami frigate was selected primarily due to its suitability for the Australian navy, but added it would further deepen the strategic partnership between Australia and Japan.

He’s known to Sunrise viewers as a money-saving expert.

And David ‘Kochie’ Koch revealed on Monday he can be very tight-fisted, even with his own family.

The father of four, 66, shocked his co-hosts by admitting he made each of his children work at food-fast chain McDonald’s as soon as they were old enough
Koch said he would cut off his children’s allowance if they didn’t take on a part-time job at their local Macca’s.
Monique Wright, who is filling in for Natalie Barr while she has Covid, looked on disapprovingly as Koch explained why he was mean with his money.

He said the moment his children reached 14 years and nine months, the age they could legally start working, they applied for jobs at McDonald’s.

‘Whether you like the food or not, it is great training for young kids,’ he said.

The comments came after Sunrise aired a story about how a Sydney McDonald’s offered $1,000 to new employees as a sign-on bonus.

The management of the store in Chatswood resorted to the desperate measures after losing staff faster than they were being replaced.

Elsewhere on Monday’s show, Koch explained why his co-anchor Barr hadn’t shown up for work.

Barr, 54, had been scheduled to return to the news desk that morning after taking a week off to visit family in Perth.

Koch explained at about 8:40am that his colleague wasn’t in the studio because she had tested positive for Covid-19.

‘Well, everyone’s been asking, “Where’s Nat?” Well, you may have noticed she’s been missing over the past week or so,’ he said.

‘She’s at home in isolation after testing positive for Covid.’

Barr, who is fully vaccinated, has almost no symptoms except for a cough, which is nearly gone, and is feeling ‘pretty good’ overall.

The Australian government has announced a new national cybersecurity strategy designed to safeguard businesses, public institutions, and individuals from growing online threats. The plan follows a series of high-profile cyber incidents over the past two years, which exposed vulnerabilities in critical infrastructure, healthcare providers, and large corporations. Officials emphasise that the updated framework is intended not only to respond to immediate risks but also to prepare the nation for future challenges in an increasingly digital world.

A central feature of the strategy is the creation of a dedicated Cyber Security Coordinator, who will oversee national responses to major incidents and ensure collaboration between government agencies, private companies, and international partners. The role is expected to streamline decision-making and provide clearer lines of accountability during crises. In addition, the government is investing in advanced monitoring systems to detect unusual online activity more quickly, reducing the time it takes to respond to threats.

Businesses have been urged to play an active role in strengthening cybersecurity measures. Many small and medium-sized enterprises lack the resources of larger corporations, leaving them particularly vulnerable to attacks. To address this, the government is introducing support programs, including grants for security upgrades and access to expert guidance. Industry groups have welcomed these measures, noting that cyber incidents can have devastating financial and reputational consequences, particularly for smaller firms that may struggle to recover.

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The New South Wales government has unveiled plans for a major transport upgrade across Sydney’s western suburbs, promising significant improvements to connectivity, commuting times, and economic opportunities in the region. The package includes the expansion of rail lines, new bus corridors, and upgrades to major road networks. With western Sydney identified as one of the fastest-growing areas in the state, the investment is designed to accommodate population growth and support regional development.

A centrepiece of the upgrade is the extension of the Sydney Metro network, with new stations planned to link rapidly expanding suburbs to the central business district. The government expects that these additions will reduce congestion on existing train lines and provide a more reliable service for daily commuters. The project is set to create thousands of construction jobs, while also leaving a long-term legacy of improved infrastructure for future generations. Local councils have broadly welcomed the announcement, although some community groups are concerned about land acquisition impacts.

Bus services will also see substantial changes, with dedicated rapid transit corridors proposed to cut travel times between residential suburbs and key employment hubs. These changes are designed to make public transport a more attractive option, easing pressure on congested roadways. By integrating bus and train services more effectively, the government hopes to provide seamless travel options that encourage commuters to leave their cars at home. This shift could also contribute to reduced emissions and better urban air quality over time.

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Australian universities are deepening their collaboration with academic institutions across the Asia-Pacific region in an effort to strengthen research capacity, enhance student exchange programs, and support regional development. The initiative comes at a time when international education remains one of Australia’s largest export sectors, contributing significantly to the economy. By broadening ties beyond traditional partners in Europe and North America, universities aim to diversify their networks and future-proof the sector against global uncertainties.

One of the key drivers of this expansion has been the growing demand for collaborative research in areas such as renewable energy, public health, and digital innovation. Institutions in countries like Indonesia, Vietnam, and the Philippines have shown increasing interest in joint projects, often supported by both government funding and private sector investment. Australian universities are well-positioned to provide expertise and infrastructure, while benefiting from local knowledge and regional perspectives that enrich research outcomes.

Student mobility remains a central component of these partnerships. More Australian students are taking up exchange opportunities in Asia-Pacific countries, gaining language skills and cultural experience that can enhance employability in a globalised job market. At the same time, inbound students from these regions are contributing to the diversity of campuses across Australia. Many universities are also offering joint degree programs, allowing graduates to receive recognition in both Australia and their home countries, further boosting the appeal of these initiatives.

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After several years of rapid price growth and subsequent cooling, Australia’s housing market is showing signs of stabilisation. Data from the latest CoreLogic report indicates that house prices in major cities such as Sydney, Melbourne, and Brisbane have begun to level out, with only marginal increases recorded over the past three months. While affordability remains a pressing concern for many Australians, the moderation in price growth suggests that the market may be entering a more sustainable phase.

One of the driving factors behind the slowdown has been a series of interest rate increases by the Reserve Bank of Australia (RBA). The central bank raised rates throughout 2022 and 2023 in an effort to curb inflation, and these moves have had a direct impact on mortgage repayments. For many buyers, higher borrowing costs have reduced the size of loans they can secure, cooling demand and putting downward pressure on prices. Although inflation has eased slightly in recent months, the RBA has indicated it will maintain a cautious approach.

Despite these conditions, demand remains strong in certain segments of the market, particularly for well-located properties close to public transport, schools, and employment hubs. First-home buyers, while facing affordability challenges, continue to look for entry-level properties, supported by government assistance programs such as stamp duty concessions and grants. Meanwhile, investors are re-entering the market in some cities, drawn by rental shortages and rising rental yields. This has created a competitive environment in specific suburbs, even as overall price growth slows.

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Australia has announced a new set of renewable energy targets that aim to significantly transform the nation’s energy sector by 2030. The federal government has set a goal of increasing the share of electricity generated from renewable sources to 82 per cent within the next seven years. This ambitious target is part of a broader strategy to reduce greenhouse gas emissions and align the country with international climate commitments made under the Paris Agreement. Officials say the policy will create both challenges and opportunities for the economy.

One of the key elements of the plan involves expanding solar and wind infrastructure across multiple states, with particular emphasis on regional areas that have suitable land and weather conditions. These projects are expected to provide thousands of jobs during construction and offer long-term benefits for local communities. However, there are ongoing debates about the environmental impact of large-scale projects, particularly in areas with sensitive ecosystems or traditional land. The government has promised to consult with Indigenous communities to ensure cultural heritage and land rights are respected.

In addition to boosting renewable generation, the plan places a strong focus on upgrading the nation’s energy grid. Australia’s electricity transmission network has long been considered outdated and in need of modernisation to handle variable sources like wind and solar. The federal government will provide financial support for major interconnector projects, which are designed to move electricity between states more efficiently. Analysts argue that without these upgrades, the transition could be hampered by technical and logistical bottlenecks.

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