Live: Minister says Australian housing market experiencing a correction (opens original article in a new tab)

Housing Minister Clare O'Neil defended a deal with the Greens to pass budget measures including capital gains tax and negative gearing changes, while Social Services Minister Tanya Plibersek addressed falling auction clearance rates.

• Housing Minister Clare O'Neil defended the Labor-Greens deal to pass capital gains tax and negative gearing measures through parliament.
• The deal includes restrictions on self-managed super funds borrowing to purchase housing and an extension of the NDIS inquiry.
• Social Services Minister Tanya Plibersek commented on falling auction clearance rates, stating house prices will continue to grow slowly according to Treasury modelling.
• The legislation will be voted on in the Senate and requires approval from the lower house.