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One commission-free real estate company has reported another growth quarter to December 2016, achieving record results in revenue, gross profit and average order value.
BuyMyPlace reported a 147 per cent increase in revenue over the prior corresponding period and 18 per cent on the prior quarter.
While the national residential property market saw new listings grow by a modest 2.9 per cent in the December quarter, BuyMyPlace recorded listings growth of 84 per cent.
It also reported a 117 per cent increase in gross profit over the prior corresponding period.
BuyMyPlace CEO Paul Heath said the business has been progressing well since listing in March 2016.
“Growth in leads is mirroring growth in unique visitors and revenue is growing significantly faster than volume and leads due to the 35 per cent increase in average order value,” Mr Heath said.
“This is an important outcome in our business, where we are continuing to provide additional value to our customers through additional services, which is contributing to revenue growth and retaining gross margins.”
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