REA Group flags 8% fall in buy listings during Q1
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The news: REA Group has flagged a fall in first quarter buy listings year on year, as previously expected, but said full-year listing volumes expected to “fall broadly in line with the prior year”.
The numbers: Ahead of its annual general meeting, REA Group announced that national new buy listings had declined 8% year on year, due to a strong comparable period in the first quarter of FY25. However, it was 3% higher than the seven-year average.
Record engagement on realestate.com.au was also hit in August, attracting around 151 million visits to the site.
The context: REA Group also expects that due to “softer comparables in the second half” FY26 listing volumes are expected to “fall broadly in line with the prior year”. However, the company said this would “represent a continued healthy property market” given the strength of the market last year.
REA Group also said that strong fundamentals and the potential for further interest rate cuts "should continue to support buyer demand and national house price growth”.
First quarter financial results will be released on 7 November.
What they said: “REA’s future is bright, and I know when I sign off at the end of this month that I am leaving the business well positioned for continued growth,” REA Group CEO Owen Wilson told the annual general meeting.
The source: ASX
