Australian house prices rebound on rate cut

Properties can be seen in the Sydney suburb of Enmore, Australia, September 5, 2016. Picture taken September 5, 2016. REUTERS/David Gray/File Photo

SYDNEY: Australian house prices rebounded last month as buyers jumped into the market in anticipation of the first interest-rate cut in more than four years which the Reserve Bank (RBA) then delivered two weeks ago.

The Home Value Index for major cities advanced 0.3% in February after two months of declines, property consultancy CoreLogic Inc said in a statement yesterday.