The reply from rsjsouza is very instructive, but there is one other detail that I would emphasize.
When you poke probes into an electric socket, the bare ends can easily touch one another,
Not in a standard Australian socket, as the Live & Neutral normally have moulded plastic guides preventing this.
which while not dangerous to the meter, is a very stunning experience for the user and could lead to him touching the ends, with deadly results. Probing sockets is one of the first things most users do with a DMM, but it is really a dangerous exercise and should be minimized.
The most basic test for whether or not a DMM is working is to set it on DC Volts, and check the reading with the probes touching (should be between -0.01 mV and +0.01 mV), and with the probes contacting the poles of a known-fresh 1.5 V battery. If you have any loose resistors on your bench, reading their resistance is also a good test.
If you do probe the mains socket, a tip that can make your life much easier is to switch the DMM to a manual range. It makes reading the voltage faster and clearer, as you can see more or less instantly when the probes touch the contacts in the socket. Waiting for autorange can cause mistakes.
An even better tip is to turn the Mains off on the wall socket (GPO), insert the probes one at a time, ensure the DMM is on ACV, then turn the switch back on.
Take note of the reading, turn off the Wall socket switch, then remove the probes from the socket.
If a power board is used, it can be even safer.
With the wall socket off, unplug the power board, so it has no electrical connection to the Mains, insert the probes, ensure the DMM is on ACV, plug the power board back in, turn the switch on the wall socket on, (& on the power board if there is one), take the reading, turn off the wall socket, unplug the power board, remove the probes.
In countries which do not have a switched wall socket, the second procedure is the only really safe method.
Obviously, in that case, you still have to unplug & plug in the power board with wall sockets that are still "hot".
It is often hard to push DMM probes in deep enough to make proper contact with Australian power sockets.
I think the OP ran into this problem , hence the silly reading.