Original title: Australia Home Prices Rise for Seventh Month After Rate Cuts
Australian home prices advanced for a seventh straight month, fueled by lower borrowing costs and a supply shortfall in major cities, with economists predicting further increases ahead. The Home Value Index rose 0.7% in August, property consultancy Cotality said on Monday, the strongest monthly gain since May 2024. Brisbane was the top monthly gainer with a 1.2% increase while bellwether Sydney climbed 0.8%, which was also the median result for the nation’s major cities.