Happy Wednesday!

I’m seeing a surge in real estate agents posting panicky messages on their Instagram feeds, declaring empty auction rooms and low attendance at open houses. Today, we’re going to look at the data on what’s actually happening with house prices, to put some facts and evidence around those posts and headlines.

I’ve got 1 minute

AI is being linked to a surge in self-represented workplace court cases

More people are taking workplace disputes to court without a lawyer, and judges and lawyers say AI is playing a growing role.

New court data, obtained by the Australian Financial Review (AFR), shows the number of self-represented workplace claims in the Federal Court has more than doubled over the past year.

While AI may be making it easier for some workers to pursue legitimate claims, experts warn poorly prepared AI-generated filings are putting extra pressure on the courts.

Here's what to know.

What happened?

New Federal Court data, according to the AFR, shows the number of self-represented litigants in the Federal Court challenging dismissals or lodging workplace disputes surged 125% in the year to 30 June, rising from 36 to 81.

Much of the growth has come from general protections claims, which cover issues including unlawful dismissal and other adverse workplace action.

In the Federal Circuit and Family Court, general protections claims rose almost 50% over the past financial year, increasing from 889 to 1,314, according to the AFR's analysis of the data.

The number of these claims has been growing at an accelerated rate over the past several years.

In the Federal Court, which hears more complex matters, general protections claims increased 10.8% over the past financial year, rising from 185 to 205. However, the AFR reports filings have increased 153% over the past three years.

Why is AI being linked to the rise?

While the Federal Court has not publicly said how much AI is contributing to the increase in workplace claims, it has been warning about the growing use of generative AI in legal proceedings for months.

Generative AI has made it easier for people to prepare legal documents without hiring a lawyer. But judges warn AI-generated submissions can contain errors or fabricated legal authorities.

"There has been a general increase observed across the court in the use of generative AI by parties," a Federal Court spokesman told the AFR.

What are judges saying?

Judges say the growing number of self-represented cases, combined with the need to scrutinise AI-generated submissions for errors, is placing additional pressure on the courts.

Last month, a Federal Circuit and Family Court judge warned a worker's use of AI came "perilously close" to contempt after a chatbot produced evidence that was mischaracterised or did not exist, dragging the case on for months at "significant cost" to the employer, the AFR reported at the time.

What's being done about it?

Despite the increased workload, the AFR found courts have reduced the median time taken to finalise workplace disputes over the past five years. In the year to 30 June, 64% of Federal Court workplace claims were finalised within 12 months.

The Albanese government says growing court workloads and lengthy delays in resolving some workplace disputes are among the reasons it wants to establish a dedicated Fair Work Court to deliver faster and more efficient outcomes. Consultation on the court's design is expected to begin later this year.

Why does it matter?

AI is making workplace legal claims more accessible for people who can't afford a lawyer, potentially helping workers enforce their rights.

But judges and legal experts warn poorly prepared AI-generated claims can overwhelm the courts, delaying cases and increasing costs for everyone.

That's one of the issues the Albanese government says it hopes to address through a proposed Fair Work Court.

Reporting by Lachlan Keller.

I’ve got 2 minutes

Australian house prices record biggest monthly fall since 2022

House prices in Australia fell for the fourth straight month in July, with the decline spreading beyond Sydney and Melbourne to the rest of the country.

Prices fell 0.7% in July, according to data released by property tracker Cotality, marking the biggest monthly decline since December 2022.

As Australia grapples with its housing crisis, both sides of politics have pointed to the figures to support their own arguments.

Here's what to know.

What's happened?

Sydney and Melbourne led the declines nationally, with home values falling 1.4% and 1.2% respectively.

Average home values in Melbourne peaked in November last year, while Sydney reached its highest point in January 2026.

What began in Australia's two largest cities has now spread more broadly across the country.

Prices in Brisbane and Adelaide fell by 0.6% and 0.2% respectively, marking a second consecutive month of declines in both cities. Regional prices also slipped 0.2%, marking the first regional decline since January 2023.

The biggest falls were among the most expensive homes.

The most expensive homes lost 3.2% in value over the past three months, while the cheapest homes actually rose 0.3%.

Why is this happening?

Cotality said a combination of higher interest rates, stretched affordability and weaker buyer confidence were weighing on the housing market.

The Reserve Bank of Australia has raised interest rates three times this year, taking the cash rate to 4.35%.

The property tracker also said the conflict in Iran had impacted buyer confidence, with concerns about higher fuel costs and inflation making people more cautious about buying property.

"We have observed a deterioration in the flow of new listings across the country in recent weeks, led by Sydney, as potential vendors assess a weak market and choose to wait until conditions improve," Cotality's Head of Research Gerard Burg said.

The report also pointed to the Federal Government's recent changes to negative gearing and the capital gains tax (CGT) discount, which are expected to reduce investor demand.

Negative gearing allows investors to offset losses on investment properties against their taxable income, while the CGT discount reduces the amount of tax paid on profits when an asset is sold.

The Government says the reforms are designed to slow house price growth by making property less attractive as an investment and give first-home buyers a better chance of entering the market.

What's the political reaction?

Nationals leader Matt Canavan criticised the Government on Monday following the release of Cotality's data.

"No one benefits if no homes are being sold or very few are being sold," he said on Seven's Sunrise.

Treasurer Jim Chalmers told ABC Radio National on Monday that it was not uncommon for the housing market to pull back from time to time, even amid broader growth in prices.

Chalmers added that Treasury modelling had forecast slower house price growth under Labor's tax changes, but expected prices to recover over time.

Why does all this matter?

House prices remain one of Australia's biggest political issues as governments try to improve housing affordability without triggering a sharp fall in property values.

Labor says its changes to negative gearing and the CGT discount are designed to ease pressure on house prices and improve the chances of first-home buyers getting into the market.

Reporting by Lachlan Keller.

Finance Hacks with Finder

A better deal is one thing - getting paid for it is another.

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A titbit for your group chat

Elon Musk is about to leave some space junk on the moon.

Part of a SpaceX Falcon 9 rocket, which launched two lunar landers more than a year ago, is expected to crash into the moon on Wednesday morning (U.S. time) after spending months drifting through space.

It'll slam into the moon's sunlit surface at more than 8,700 km/h – over seven times the speed of sound.

Sadly for us in Australia, it'll happen during the day, so we won't be able to watch it live. But, luckily for people across the eastern U.S., Canada and much of South America will have the best view.

It'll be just the second known case of a discarded rocket accidentally crashing into the moon, after a Chinese rocket struck the lunar surface in 2022.

Reporting by Lachlan Keller.

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