The news moves fast and so do we.

The Quicky is Mamamia's daily news podcast, getting you up to speed on all the latest news in a quick, digestible format.

Here are your headlines for today.

New data suggests the end of the housing super cycle. 

Australia's 30-year housing super cycle may be close to over, as house prices across Sydney and Melbourne begin to decline.  

Dwelling values fell 0.9 per cent in Sydney and 0.8 per cent in Melbourne during May, according to new data from research agency Cotality.

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AMP chief economist Shane Oliver said that, along with rising rates and poor affordability, the tightening of property tax concessions in the budget and a political shift towards lower migration might mean the 30-year upswing was nearing a close.

Oliver said a combination of low mortgage rates, generous tax concessions for property investors and the growth of two-income households and other factors have fuelled the super cycle.

Despite signs of slowing, he said chronic undersupply meant it might be premature to call an end to the super cycle.

The data comes as federal parliament is today set to debate changes which would limit negative gearing to new properties from July 2027, while replacing the 50 per cent capital gains tax discount with a rate based on inflation.

Treasurer Jim Chalmers said the proposed tax changes to make it easier for first home buyers to purchase a property are not the only reason the housing market is softening.

"We had seen the housing market already softening a bit before the budget. The budget decisions, the tax reforms in the budget are not the only factor when it comes to the housing market," he told ABC Radio.

"What we want to see is we want to see first homebuyers getting a fair chance at auctions, and so we're seeing that increasingly."

Chalmers said the tax changes could increase supply by incentivising investors to fund new builds, which would still qualify for negative gearing and the 50 per cent capital gains discount.

It's not such good news for renters, though.

According to Cotality, nationwide, rents rose 0.6 per cent in May, the same as in April but slightly less than the first three months of 2026.

Cotality warned a very low national vacancy rate of 1.5 per cent was likely to keep pushing up rents in the coming months.

Government to provide ASIO funding documents to the Royal Commission.

Cabinet documents on funding for counterterrorism agencies in the lead up to the Bondi massacre will be made available to the royal commission, despite a federal government bid to keep them secret.

The federal government tried to stop the Royal Commission on Anti-Semitism and Social Cohesion from accessing documents that concerned the funding levels of the Australian Security Intelligence Organisation (ASIO) before the December terror attack.

The claim was made following advice from the prime minister's department to protect the cabinet process. However, in a ruling published on Friday, royal commissioner Virginia Bell said the documents would be needed as part of her inquiry.

She said the documents would not be released publicly but would still form a critical part of the commission's work.

Prime Minister Anthony Albanese called for the inquiry into anti-Semitism and social cohesion in January following political pressure, after initially rejecting calls.

The royal commission has been examining what police and intelligence agencies knew in the lead-up to the attack. However, large amounts of evidence have been given behind closed doors.

Serena Williams to make return to professional tennis.

Tennis great Serena Williams ‌will make her long-anticipated competitive ‌comeback to tennis at Queen's Club in London next week.

In a statement issued by the club, the 44-year-old said Queen's Club felt like the "perfect place to begin this next chapter". 

"Grass has given me some of the most meaningful moments of my career, and I'm excited to be back competing on one of the sport's most iconic stages," she said.

Williams is expected to play doubles with Canadian youngster Victoria Mboko.

According to sources, Williams may also make an appearance in Germany later this month.

Williams has not competed since stepping away from tennis at the 2022 US Open, where she famously declared she was not "retiring" but "evolving" away from tennis.

Oxfam report shows the wealth gap widening with more Australian billionaires.

Australia's billionaires grew their wealth by more than $25 billion over the past year, which works out to almost $50,000 every minute, according to analysis by Oxfam.

Their combined fortune is now more than $686 billion, with 178 billionaires on the latest Australian Financial Review Rich List — the highest number on record.

Oxfam's analysis found the 20 richest Australians held more wealth than the bottom three million households.

It estimated last year's increase in billionaire wealth alone could have lifted nearly one million people out of poverty or paid every household's power bill for more than a year.

The anti-poverty organisation said the figures expose a rigged system and is urging the federal government to tax the super‑rich more fairly so it can properly fund housing, healthcare, climate action and support for people doing it tough.

The end of Euphoria.

Euphoria has finally come to a close — it's safe to say, Season 3 ended with a bang.

Creator Sam Levinson left viewers nervous after killing off Jacob Elordi's Nate Jacobs in the penultimate episode, and last night, he followed it up with a second character death in the final episode.

Appearing on the New York Times Popcast, Levinson confirmed this was the end for the show, reflecting on its message across the last eight years.

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"I'm just immensely proud of the work we did, the story we told, and you know, it's a tragic one in the end, but it's also the truth," he said.

"You know, if you are experimenting or taking drugs today, it's very possible it'll kill you. And I think it was a way of honouring Angus and saying a prayer for the future."

— With AAP

Feature image: Getty.