REA Group reports revenue growth despite tightening market conditions

May 10, 2019 10:01

REA Group have announced a revenue growth of 13% for the third quarter of the 2019 financial year, despite a drop in listings and an overall tightening in the Australian housing market.

The company, which is owned by News Corp, also reported a 7% growth in revenue over the first three months of 2019, compared to a 6% slump reported by direct competitor Domain.

REA Group report the growth is powered partly by the strength of their residential and developer business, but also the inclusion of their appraisal business Hometrack which wasn’t included in the previous year’s results.

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Hannah Blackiston

Hannah Blackiston was the deputy editor of Mumbrella. She worked with the company from March 2019 to November 2020.

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