The CEO of REA Group, which operates Australia's number one most visited property listing website, has attributed the company's huge revenue growth to the"very healthy" Australian property market.REA Group CEO Owen Wilson has hailed in a stunning stock market result and attributed the company's financial goldrush to the"very healthy" Australian real estate landscape.
Speaking to Sky News Business Now host Ross Greenwood, Mr Wilson revealed the two main factors which drove the company's performance despite suggestions there was a housing crisis. Mr Wilson said the company was “delighted” at the results which came “off the back of a very healthy property market”, where total listings in the country were up seven per cent and five per cent on the six-year average.
Owen Wilson said REA Group had the largest audience of property seekers in the country with about 10.8 million Australians visiting their website each month. Picture: Sky News Australia “Right across the course the year we’re seeing very strong buyer demand, and we have best view of buyer demand in the country because of the audience we get, we see that buyer enquiries are up 14 per cent year-on-year,” Mr Wilson said.
Mr Wilson said population growth was a “big driver” for the property demand in the market at the moment, and although the government had “paired back” the number of new migrants entering Australia, 12 months ago “we were at record levels”.