Australia news live: ASX hits record high, with investors bullish on peace; brother of former premier Dominic Perrottet appears before Icac inquiry

The Australian property market is displaying a counterintuitive trend. The vast majority of homes sold during the first six months of the year have sold for more than their original purchase price, even as house prices overall have entered decline, AAP reports. Meanwhile, the Australian Securities Exchange closed at a record high, with investors expressing optimism about peace prospects.

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