Australian House Prices Reach Fresh High Ahead of May Election

Australian home prices climbed to a fresh high in March buoyed by an interest-rate cut, highlighting persistent demand and suggesting housing will remain a significant issue in the current election campaign.

The Home Value Index rose 0.4% last month, led by the key Sydney and Melbourne markets that “look to have turned a positive corner,” property consultancy CoreLogic Inc. said in a statement on Tuesday. Every major city in the country bar Hobart reported an increase.