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Aussies’ appetite for property surfing drives substantial year for REA Group

By Juliet Helmke
09 August 2022 | 12 minute read
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Off the back of a turbocharged market during the last financial year, REA Group has reportedly drawn in a record level of users to its flagship property listings portal.

According to its latest financial figures, the parent company of realestate.com.au, PropTrack, and Mortgage Choice saw a 26 per cent increase in revenue in FY22 over FY21, taking its annual gross intake to $1.17 billion. Overall, the company reported $384.8 million in net profits over the period.

In response to the strong financial figures, the company’s board has announced it will pay a record final dividend of 89¢ per share fully franked. This represents a total dividend of 164¢ per share when combined with the interim dividend announced in February — overall, a 25 per cent increase on the prior year. 


REA Group chief executive officer Owen Wilson characterised FY22 as an “exceptional year for REA”.

On realestate.com.au, the company reported a record 25 per cent increase in membership sign-ups, with a 7 per cent increase in app launches this year over last.

Data indicates that approximately 12.7 million individuals visited realestate.com.au each month on average, which is roughly 62 per cent of Australia’s adult population.

October was the platform’s busiest month of the year, clocking 145.5 million visits, surpassing the site’s monthly average of 124.1 million visits.

It also reported an 11 per cent year-over-year increase in buyer inquiries.

“The record take up of our premium listings products enabled us to fully capitalise on the buoyant listings environment, and it demonstrates the value we provide to our customers and vendors,” Mr Wilson said.

The CEO noted that beyond their listings portal, the company’s other brands recorded significant growth, including across Mortgage Choice, which it acquired early in the financial year, and REA India, also acquired during this financial reporting period and which was previously known as Elara Technologies.

“Key milestones were also achieved in our property data, financial services and Indian businesses, building strong momentum,” Mr Wilson noted.

“These markets present great opportunities and the revenue contribution of these businesses is growing rapidly,” he said.

Excluding the recent acquisitions, the company’s revenue still clocked in at a healthy 18 per cent.

While Mr Wilson noted that market shifts would naturally have an impact in the months ahead, he assured investors that the company felt prepared to weather any changes and, in fact, build on the positive growth in FY23.

“REA enters the new financial year in a very strong position with a clear strategy for future growth,” he said.

“While we’re mindful of changing economic conditions, with further interest rate rises expected, Australia’s property market is healthy and supported by strong underlying fundamentals.”


Juliet Helmke

Based in Sydney, Juliet Helmke has a broad range of reporting and editorial experience across the areas of business, technology, entertainment and the arts. She was formerly Senior Editor at The New York Observer.

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