Australia’s Home-Price Gains Accelerate Even as Rate Hike Looms

Australia’s home-price growth gathered pace in January, underscoring the challenge for Reserve Bank policymakers as they weigh interest-rate increases in a property market already grappling with stretched affordability.

The Home Value Index advanced 0.8%, accelerating from a 0.6% gain in December, property consultancy Cotality said Monday. Perth recorded the fastest price growth at 2%, followed by Brisbane’s 1.6% and Darwin’s 1.5%.