BUZZ-Australian real estate stocks jump as rate cut bets improve outlook

Reuters
01-16

** Australian real estate stocks 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 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 , Australia's listed top property developer by market value, leap 3.9% to 1-month high if A$37.96

** Dexus jumps 1.7%, while Scentre Group advances 1.3%

** Citi prefers GMG, SCG, National Storage REIT , among others

** Sector gained 12.4% in 2024, is up ~5% this year

(Reporting by Sameer Manekar in Bengaluru)

((Sameer.Manekar@thomsonreuters.com;))

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