Scentre Group is poised to benefit from “healthy underlying” consumer demand and a reduction in borrowing costs as the Reserve Bank of Australia is expected to cut rates three times this year, Citi analysts said as they lifted the retail landlord to a “buy” rating from “neutral”.

The commercial property market is turning a corner – except office property – and the investment bank said Goodman Group had also performed strongly for two years and remained attractive due to the global demand for data centres, a focus of the former warehouse specialist.