Fairfax buys Allhomes for $50 million

Fairfax Media has bought Canberra-based property advertiser Allhomes for $50 million.

Fairfax Media has purchased real estate website Allhomes for $50 million. (AAP)

Fairfax Media is expanding its online property business, buying real estate website Allhomes for $50 million.

The deal, still subject to regulatory approval, would see Allhomes' 180 clients in the ACT and regional NSW be promoted by the Domain Group.

Fairfax chief executive Greg Hywood said the acquisition was the latest step in growing Domain nationwide.

"Canberra is a strategically important market for Fairfax and Allhomes reinforces our digital position in the ACT," he said in a statement on Thursday.

The Canberra-based Allhomes was founded in 2000.

Its chief executive Tim White will now manage Allhomes and Domain operations in Canberra.