Australian real estate stocks jump as rate cut bets improve outlook

Goodman

16/01/2025 03:09

** Australian real estate stocks  .AXRE  jump as much as
2.7% in their biggest intraday gain since mid-May last year
    ** Index last up 2.4% at a one-month high, set for third
consecutive day of gains and helping lift ASX200  .AXJO  1.3%
    ** Citi analysts predict "a more positive investment
landscape" for real estate stocks this year on expectations of
rate cuts and stable finance costs
    ** Goodman Group  GMG.AX , Australia's listed top property
developer by market value, leap 3.9% to 1-month high if A$37.96
    ** Dexus  DXS.AX  jumps 1.7%, while Scentre Group  SCG.AX 
advances 1.3%
    ** Citi prefers GMG, SCG, National Storage REIT  NSR.AX ,
among others 
    ** Sector gained 12.4% in 2024, is up ~5% this year

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com;))