Domain seals acquisition of online property portal

Domain seals acquisition of online property portal

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Domain has looked to solidify its national presence with the capture of a leading online property website as it continues to take the fight to market leader realestate.com.au.

Domain has confirmed it will pay $50 million to buy online real estate portal All Homes.

Fairfax Media made the announcement of the purchase of the Canberra-based portal to the ASX in the past hour.

All Homes, a leading real estate advertising site in the ACT and surrounding regional areas of NSW, was founded in 2000 and services more than 180 real estate agencies.

Domain said the move was made to strengthen its presence in the ACT's online property market.

Fairfax managing director Greg Hywood believes the acquisition confirms Fairfax's commitment to growing Domain's national profile.
 
"Canberra is a strategically important market for Fairfax and All Homes reinforces our digital position in the ACT," Mr Hywood said.
 
 
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