Hello, it's Friday, April 8. Here's what you need to get caught up on today's news.
One thing to know right now: Craig Kelly has been egged
Police are investigating after the United Australia Party leader was egged during a rally at a park in Melbourne this afternoon.
In footage posted online, Mr Kelly can be seen sitting in Fawkner Park in South Yarra when a woman walks up behind him and cracks an egg over his head.
Police believe two women were involved in the attack. They said in a statement a witness on a bike followed the women as they ran to a vehicle waiting nearby.
Police said the cyclist parked his bike in front of the car, before the male driver allegedly ran over his foot
Police are still investigating the identity of those involved.
We heard a lot about the High Court challenge over Liberal preselections in NSW
The High Court has this afternoon thrown out a legal challenge to Liberal preselections in NSW.
ICYMI, there has been infighting since a federal branch takeover of the NSW Liberal Party's preselection of candidates.
Former NSW Liberal Party member Matthew Camenzuli wanted the High Court to grant special leave to challenge a recent court decision that the federal takeover of preselections was valid.
But today, the High Court found there was little prospect of success and rejected his application for a hearing.
It means that the path is now clear for Prime Minister Scott Morrison to call a federal election.
The news Australia is searching for
- Chris Dawson: The High Court has cleared the way for former Sydney teacher Chris Dawson to be tried for murder. Mr Dawson is alleged to have murdered his wife Lynette in 1982
- Ketanji Brown Jackson was confirmed by the US Senate as the first black woman to serve on the Supreme Court
- Ken West, the founder of the Big Day Out music festival, has died aged 64
News you might have missed
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A man has died in a car submerged in floodwaters in the town of Cobbitty, south-west of Sydney. Police are trying to retrieve his body
- Jeremy Rockliff has been confirmed as the next Premier of Tasmania after a partyroom meeting. Michael Ferguson will become the deputy premier
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Several Australian popular union-linked TikTok accounts targeting young voters with anti-government content have not abided by electoral transparency rules around political messaging, an ABC investigation has found
One more thing: House prices could fall by up to 15 per cent
Modelling from the Reserve Bank estimates house prices could fall 15 per cent if interest rates rise two percentage points.
In its biannual Financial Stability Review, the RBA warned house price increases during the pandemic would likely be unwound, but it also said most borrowers should be able to cope with higher repayments relatively comfortably.
The RBA estimated that only about 5 per cent of loans now had an outstanding loan-to-value ratio (LVR) greater than 75 per cent, compared to almost a quarter at the beginning of 2020.
This means that for 95 per cent of borrowers, it would take more than a 25 per cent drop in home prices to send them into negative equity, the dangerous position where the borrower owes more to the bank than their home is worth.
That's it for now
We'll be back tomorrow with more.
ABC/wires
