Australia’s property market healthy, strong: REA boss
The departing chief executive of the company that owns realestate.com.au says there were a record 151 million visits to the site in August.
FOR-SALE listings on Australia’s leading property website have dropped in recent months but remain strong on the back of a “healthy” market.
National sales listings on realestate.com.au were down eight per cent in the September quarter compared to the same time last year, but were up three per cent compared to the seven-year average.
Realestate.com.au owner REA Group said that the September quarter of last year was particularly strong, skewing the comparison.
Listings softened in the second half of 2024/25, so while they are hard to predict, the company expects national volumes for this financial year to fall broadly in line with the prior year, chief executive Owen Wilson told the REA Group’s annual general meeting on Thursday.
“Given the strength in the market last year, this would represent a continued healthy property market,” he said.
Engagement on the website was a good measure of demand, he said, and in August there were a record 151 million visits.
National home prices have also reached record highs, growing 6.2 per cent from the previous year, and September was their ninth consecutive month of growth, Mr Wilson said.
“These conditions offer a great time to sell, and vendors should continue to feel confident in bringing their properties to market,” he said.
Strong underlying fundamentals and the potential for further interest rate cuts should continue to support buyer demand and national house price growth, Mr Wilson said.
Thursday’s meeting was the last for Mr Wilson, who is retiring from full-time executive work at the end of the month after 10 years with the company, including six as chief executive.
He’ll be replaced by Car Group chief executive Cameron McIntyre.
