Australia news live: Chalmers warns of ‘global dislocation’ as Treasury reveals biggest threats to economy

Treasurer says Australians must brace for uncertainty due to Trump tariffs. Follow today’s news live

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Australia’s housing market has surged in the immediate aftermath of Labor’s emphatic election victory, preliminary data shows, while analysts say an anticipated string of rate cuts may see the trend continue.

Auction clearance rates rose to 70% in the week following the election, according to preliminary Cotality data, from 60% in the middle of last month. An auction clearance rate of 70% or above typically indicates sellers are in control of the market.