Australia's housing crisis appears to be showing signs of improvement, as recent data indicates a decline in home prices across four capital cities. Additionally, auction activity is softening, and rent increases are occurring at the slowest rate seen in years. According to reports from data groups, property values saw a modest increase of 0.4% in September, which is consistent with the 0.3% rise recorded in the two preceding months, as noted by CoreLogic. Meanwhile, PropTrack's housing index remained nearly unchanged, with a slight increase of just 0.04% for the month. These trends suggest that the pressures of the housing crisis may be beginning to ease, providing some relief to renters and potential homebuyers alike.

**Australia News Update: Howard Critiques Trump; Commonwealth Bank Adjusts Rate Cut Predictions** Former Prime Minister John Howard has expressed his disapproval of Donald Trump, stating that he would not support the Republican candidate due to Trump's denial of the election results, which he believes is incompatible with democratic values. In other news, the Albanese government has implemented a 10% increase in Commonwealth Rent Assistance starting today. However, welfare advocates are cautioning that this increase will have minimal impact amid the ongoing housing crisis. The adjustments to rent assistance, which vary based on individual circumstances, will see single recipients at the maximum rate receive an additional $23 per fortnight, while families with one or two children will see an increase of $27.02. Advocates argue that these amounts are insignificant compared to the rising rental costs, with average rents increasing by over $100. One advocate highlighted the disparity, stating, "Rent assistance went up by $25, and average rents have gone up by more than $100. What might look like a big percentage increase is, frankly, negligible, and that’s one of the reasons that this is so upsetting." Additionally, the indexing of Commonwealth Rent Assistance means that the threshold for qualifying for assistance also rises, potentially reducing the proportion of rent covered for those not receiving the maximum payment. Recent statistics reveal that annual rents have surged by 13.3% statewide, with Melbourne experiencing a 14.6% increase. The public housing waiting list has reached 61,587, and the number of individuals receiving support from Specialist Homelessness Services in Victoria has risen from 30,510 in July 2017 to 32,496 in June 2024. Notably, the number of people accessing these services due to housing stress has remained above 10,000 each month since January 2023. Currently, social housing constitutes just 2.8% of Victoria’s total housing stock, the lowest percentage in Australia. Critics argue that conditions for those on the brink of homelessness have worsened since the government announced its Housing Statement last year.