Business
‘Really strong buyer demand’: REA chief hails property rebound as shares hit fresh highs – Sydney Morning Herald
REA Group shares have sky rocketed after the real-estate listings portal reported strong earnings growth.
Revenue for the half year dipped 2 per cent to $430 million, a decline which was attributed to the period when strict social distancing restrictions were implemented across Melbourne. Listings in Sydney grew by 19 per cent but the restrictions in Melbourne led to an 11 per cent decrease in listings. National listings grew by 4 per cent for the half.
The companys revenue was also impacted by a 7 per cent drop from the commercial and developer segment and a 12 per cent drop in media revenue due to…
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