Australia news LIVE: Trump acclaims Israel-Gaza peace deal; Albanese government prepares for major overhaul of Defence property

The Albanese government is preparing to unveil a dramatic overhaul of the nation’s defence property portfolio in a move that is set to raise billions of dollars.

After sitting on an audit of the Defence estate for almost two years, the government is poised to unveil contentious plans for a major consolidation of the 3 million-hectare property portfolio, overriding resistance from the military establishment to sell valuable real estate in Sydney, Melbourne and other capital cities.

An aerial photograph of the Victoria Barracks in Paddington, Sydney.

The lead author of the government’s defence strategic review called for Defence Minister Richard Marles to take bold decisions on asset sales, even if it upset military leaders and politicians.

Historic properties such as Victoria Barracks in inner-city Sydney, Melbourne and Brisbane are among the sites closely scrutinised for potential sale and redevelopment.

The long-awaited overhaul is yet to go to cabinet but is expected to be announced before Christmas.

US President Donald Trump has forecast a “lasting peace” in Gaza in a deal to end the war that has killed thousands over the past two years, raising hopes that the outcome will go beyond a fragile ceasefire that might collapse into further fighting.

Israel appears set to welcome hostages home from captivity under Hamas as soon as Monday or Tuesday, clearing the way for Palestinian prisoners to be released.

However, there is no public guarantee that Hamas will relinquish its weapons despite clear demands from Israel for steps towards disarmament in order to justify its commitment to withdraw from almost half of Gaza.

While the terms of the peace deal are yet to be revealed, Trump is expected to head to the Middle East to seal the agreement this weekend and talked in Washington as if the outcome were assured.

“Last night we reached a momentous breakthrough in the Middle East, something that people said was never going to be done,” he said during a cabinet meeting in the US capital.

Good morning and welcome to our national news live blog for Friday, October 10. My name is Emily Kaine, and I’ll be kicking off our rolling news coverage today. Here’s what is making headlines today.

• US President Donald Trump has forecast a “lasting peace” in Gaza in a deal to end the war that has killed thousands over the past two years, raising hopes that the outcome will go beyond a fragile ceasefire that might collapse into further fighting. Israel appears set to welcome hostages home from captivity under Hamas as soon as Monday or Tuesday, clearing the way for Palestinian prisoners to be released.
• The Albanese government is preparing to unveil a dramatic overhaul of the nation’s Defence property portfolio in a move that is set to raise billions of dollars. After sitting on an audit of the Defence estate for almost two years, the Albanese government is poised to unveil contentious plans for a major consolidation of the 3 million-hectare property portfolio, overriding resistance from the military establishment to sell valuable real estate in Sydney, Melbourne and other capital cities.
• Husamettin Dogan,44, has had his jail sentence for the rape of French woman Gisele Pelicot extended from nine to 10 years after appealing his conviction. He was one of 51 men convicted last year in the case. Pelicot was repeatedly drugged by her husband and sexually assaulted by strangers he invited over. “The court and jury sentence Husamettin Dogan to 10 years in prison” along with “mandatory treatment for five years”, Judge Christian Pasta said.
• A price dispute between mining giant BHP and China’s state-run iron ore buyer risks dragging on for months, and even into early 2026, as both sides remain locked in stalemate. China is the world’s largest consumer of iron ore, while BHP is one of three major suppliers that provide the bulk of the material to the country’s steelmakers. Bloomberg News reported last week that CMRG had asked major domestic buyers, including steel mills and state-owned trading houses, to suspend purchases of any new US-dollar-denominated seaborne cargoes from BHP.
• The government is under fire for its handling of a cohort of former Islamic State women and children who have returned to Australia. During question time yesterday, Opposition Leader Sussan Ley suggested that Prime Minister Anthony Albanese had misled parliament by claiming Australia did not provide assistance to the group of women and children.
• Trump is meeting Finnish President Alexander Stubb today at the White House, where the two are expected to discuss the US Coast Guard’s acquisition of icebreaker ships for use in the Arctic.