The company behind realestate.com.au has lifted annual profit by 40 per cent and says property listings are on the rise.
REA Group made a profit of $210 million in the year to June 30, and says revenue in its Australian operations rose 21 per cent due to improvements in its property listing products.
That's despite a four per cent drop in the number of properties listed for sale in the year.
Chief executive Tracey Fellows said listing volumes recovered in June and that recovery had continued into July, indicating conditions will improve in the first half of this financial year.
