New developer projects fell 41pc in the last quarter: REA
Key Points
- Why it matters: REA Group is Australia’s biggest property sales company.
- What happened: The News Corp-owned company reported flat revenue, profits down.
- What’s next: It tracks new developer projects. They fell by 41pc in Q4, FY2023.
- Dividend: REA will pay a total dividend of $1.58 in 2023.
The number of new projects launched by property developers fell 41 per cent year-on-year in the three months to June 30, ending a financial year in which there were almost 20 per cent fewer projects.
The figures were revealed in the full-year results from REA Group. ASX-listed REA, which is owned by News Corp, is Australia’s largest real estate listings company. It owns realestate.com.au, which is visited by 2.7 million Australians every day.
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Media & marketing
Fetching latest articles