REA Group

REA Group Limited

Company type	Public
Traded as	ASX:  REA S&P/ASX 200 component
Industry	PropTech, Fintech
Founded	1995
Founders	Karl Sabljak, Carmel Sabljak, Steve Sabljak, Martin Howell
Headquarters	511 Church Street, Richmond, Victoria , Australia
Area served	Australia, India, United States, Canada
Key people	Hamish McLennan (Chairman) Cameron McIntyre (CEO) Andrew Cramer (CFO)
Products	realestate.com.au realcommercial.com.au Flatmates.com.au Housing.com Mortgage Choice PropTrack
Revenue	A$1.673 billion (2025) [1]
Net income	A$564 million (2025 core)
Owner	News Corp Australia (approx. 61%)
Number of employees	3,000+ (2025)
Subsidiaries	realestate.com.au realcommercial.com.au Flatmates.com.au REA India (Housing.com) Mortgage Choice PropTrack CampaignAgent Realtair Planitar (iGUIDE) Neighbourlytics property.com.au
Website	www.rea-group.com

REA Group Ltd is a global digital advertising company specializing in property. Headquartered in Melbourne, Australia, it is a majority-owned subsidiary of News Corp Australia.

History

Founding and Early Years (1995–2001)

REA Group was founded in 1995 in a garage in Doncaster, Victoria, by Karl Sabljak, Carmel Sabljak, Steve Sabljak, and Martin Howell. Originally intended as a dial-up internet service provider, the founders pivoted to digital real estate advertising after securing the domain realestate.com.au.

The company listed on the Australian Securities Exchange (ASX) in 1999. Following the dot-com crash in 2000, which saw the company's valuation plummet by 90%. In February 2001, News Limited (now News Corp Australia) secured a 44% controlling stake for A$2 million in cash and A$8 million in advertising credits—a deal now regarded as one of the most successful in Rupert Murdoch's career.

During this era, the Ray White Group acted as a "white knight" and strategic partner. In 2002, the White family acquired a 15.8% stake, providing the digital startup with essential industry credibility. Ray White eventually sold its holding in 2009 for approximately A$77.6 million, a fraction of the stake's multi-billion dollar value a decade later. Under CEO Simon Baker (2001–2008), the company turned around from a market cap of $8 million to over $900 million.

Packer-Murdoch Rivalry

The early 2000s were marked by a proxy war between the Murdoch and Packer families. While News Corp backed REA, the Packer family (via PBL) and Fairfax backed rival Domain. REA's success is often attributed to News Corp's aggressive use of its local newspaper network to convert traditional agents to the digital platform, ultimately outmaneuvering the Packers' television-led strategy.

In 2025 CoStar took over the company from Nine Entertainment Co. and delisted it from the ASX. ^[2]

Global Expansion and Diversification (2014–2026)

Under the leadership of former CEOs Tracey Fellows and Owen Wilson, the group transitioned from a listings portal to a property technology and financial services marketplace.

• In 2021, REA acquired Mortgage Choice, marking a significant entry into the mortgage broking industry.
• In September 2024, REA Group made a high-profile but ultimately unsuccessful £6.2 billion (A$12 billion) cash-and-share bid for the UK’s Rightmove.
• In October 2025, the group acquired a 61.5% majority stake in Canadian tech firm Planitar Inc., the maker of iGUIDE, an AI-powered 3D spatial mapping platform.

REA India

REA Group holds a controlling interest in REA India (formerly Elara Technologies), which operates Housing.com, PropTiger, and Makaan.com. In 2024, the company opened REA Cyber City in Gurugram, a Global Capability Centre serving as a primary tech innovation hub for the group's international operations.^{[ citation needed ]}

Leadership

Board of Directors

Name	Role	Since
Hamish McLennan	Non-Executive Chairman	2012
Cameron McIntyre	CEO & Executive Director	2025
Tracey Fellows	Non-Executive Director	2014
Michael Miller	Non-Executive Director	2015
Jennifer Lambert	Independent Non-Executive Director	2020
Nick Dowling	Independent Non-Executive Director	2018
Kelly Bayer Rosmarin	Independent Non-Executive Director	2022

Executive Leadership Team

Name	Position
Cameron McIntyre	Chief Executive Officer
Andrew Cramer	Chief Financial Officer (effective Feb 2026)
Kul Singh	Chief Customer & Commercial Officer
Steve Maidment	Chief Technology Officer
Elisa Nerone	Chief People & Sustainability Officer
Praveen Sharma	CEO, REA India

Leadership History

REA Group has been led by six chief executives since its founding, each marking a different phase of the company's evolution from a local startup to a global ASX 50 entity.

The Founding Era (1995–2001)

Co-founder Karl Sabljak served as the initial lead, steering the company through the transition from a dial-up service provider to a dedicated property portal. He led the company's initial public offering in 1999 before the dot-com crash necessitated a change in corporate structure and the entry of News Corp.

The Baker and Ellis Years (2001–2014)

Simon Baker (2001–2008) is credited with saving the company from insolvency following the 2001 crash. He expanded REA into Italy, Luxembourg, and the UK. He was succeeded by Greg Ellis (2008–2014), who moved the company away from pure volume toward a value-based pricing model, significantly increasing profitability and establishing REA as the dominant force in Australian digital advertising.

Expansion and Diversification (2014–2025)

Tracey Fellows (2014–2018), a former Microsoft executive, led a period of rapid cultural and international growth, including the controlling investment in REA India. In 2018, CFO Owen Wilson was promoted to CEO. Wilson's tenure was defined by diversification into financial services through the acquisition of Mortgage Choice (2021) and navigating the COVID-19 property boom. Wilson retired in October 2025, taking a role as Chair of REA India.

Modern Era (2025–Present)

In November 2025, Cameron McIntyre was appointed CEO. Having previously led CAR Group (Carsales.com.au) for nine years, McIntyre's appointment was seen as a move to leverage his experience in global digital marketplaces to counter the entry of international competitors like CoStar Group into the Australian market. ^[3]

Community Involvement

A Home For All Foundation

Established in 2025, the A Home For All Foundation (registered as the Good2Give Community Fund) is a cross-industry initiative led by REA Group to combat homelessness. In the 2026 financial year, the foundation's primary focus is providing support for individuals and families experiencing homelessness due to Domestic and Family Violence.^{[ citation needed ]}

Social Impact Programs

The group maintains long-standing partnerships with Launch Housing and Ask Izzy. Through its "Because We Care" program, REA Group provides community grants of up to $1,500 to local organizations nominated by its customers and employees.^{[ citation needed ]}

Workplace Culture

REA Group is frequently cited as a leader in Australian corporate culture. In 2025, the company was ranked #3 in the "Best Places to Work" (Large Company category) by Great Place to Work® Australia, making it the highest-ranked ASX-listed company on the list for the fourth consecutive year. ^[4]

Diversity and Inclusion

The company has received specific recognition for its gender equity initiatives:

• Women in Tech: REA operates a "Springboard to Tech" program designed to assist women transitioning from other careers into software engineering. As of 2025, women make up approximately 33% of its technology workforce, well above the Australian industry average. ^[5]
• Parental Leave: In FY25, the group updated its parental leave policy to offer 24 weeks of paid leave for primary carers, regardless of gender, and 12 months of superannuation contributions while on leave.

Graduate and Entry-Level Programs

Established in 2014, the REA Graduate Program has seen over 100 participants. In 2025, it was ranked #6 on the Australian Association of Graduate Employers (AAGE) Top 75 list. The program is known for its "Hackdays" initiative, where employees spend two days every quarter working on self-directed innovation projects. ^[6]

Controversies and Regulatory Scrutiny

ACCC Pricing Investigation (2025)

In May 2025, the Australian Competition and Consumer Commission (ACCC) confirmed it was investigating REA Group over allegations of price gouging and market power abuse. The investigation followed a decade-long period where real estate agents reported fee increases significantly above the Consumer Price Index, with some premium listings in Sydney and Melbourne reportedly exceeding A$5,000. Critics, including the Real Estate Institute of New South Wales (REINSW), alleged that REA Group's market dominance forced vendors into unsustainable advertising costs due to a lack of viable alternatives. REA Group received a Section 155 notice from the regulator and stated it was "cooperating fully" with the probe. ^[7]

Failed Rightmove Takeover (2024)

In late 2024, REA Group attempted a £6.2 billion (A$12 billion) acquisition of the UK's leading property portal, Rightmove. The bid was the largest international play in the company's history. After four non-binding proposals were rejected by the Rightmove board for "fundamentally undervaluing" the business, REA Group withdrew the offer in September 2024. CEO Owen Wilson expressed disappointment at the lack of engagement from the UK firm, while market analysts noted that the pursuit had caused significant volatility in REA's share price due to concerns over acquisition debt. ^[8]

Dynamic Methods Acquisition Block

In 2024, the ACCC raised preliminary competition concerns regarding REA Group’s acquisition of Dynamic Methods, the largest supplier of digital real estate forms in Australia. The regulator argued that the acquisition could allow REA Group to control access to critical data and digital workflows used by real estate agents, potentially harming competition from other PropTech service providers. ^[9]

Data Scraping and Copyright Litigation (2024)

In December 2024, REA Group filed a federal lawsuit against its primary competitor, Domain, alleging copyright infringement. REA claimed that Domain had "systematically sourced" content from 181 exclusive realestate.com.au listings. The case sparked significant industry controversy, with real estate agents and vendors arguing that REA was attempting to "monopolize" photography and data that was originally paid for by the property sellers (vendors), rather than the platform itself. Domain eventually removed the offending listings but maintained that REA's actions were "anti-competitive." ^[10]

Misleading Advertising Litigation (2017)

In the landmark case REA Group Limited v Fairfax Media Limited [2017] FCA 91, the Federal Court of Australia found that Fairfax (Domain) had engaged in misleading and deceptive conduct. Domain had claimed it had the "most property listings in Sydney," which REA successfully proved was false. The case is frequently cited in Australian law regarding the limits of "puffery" in corporate advertising. ^[11]

Leadership and Internal Transitions (2025)

Following the announcement of Owen Wilson's departure as CEO in February 2025, REA Group experienced a period of executive turnover. In September 2025, Melina Cruickshank, the Chief Product and Audience Officer, resigned after being passed over for the CEO position in favor of external hire Cameron McIntyre. Cruickshank's departure was described by industry analysts as a "significant loss" due to her role in scaling the company’s data and consumer divisions. ^[12]

Innovations and Industry Firsts

REA Group has been a significant contributor to the evolution of PropTech in Australia and globally, often serving as an early adopter of emerging technologies.

Mobile and Immersive Technology

• Mobile Leadership: In 2010, REA Group released the first dedicated real estate application for iOS in Australia. By 2025, the realestate.com.au app maintained a significant lead as the most-downloaded property application in the country. ^[13]
• Virtual Reality: In November 2016, the company launched realestate VR, the first dedicated virtual reality property app on the Google Daydream platform. The app allowed users to experience 3D Matterport scans of listings in a fully immersive environment. ^[14]

Artificial Intelligence and Data

• Personalization Engines: REA was the first Australian property portal to launch a behavioral recommendation engine ("Suggested Properties") in 2017. This technology utilizes big data and machine learning to serve listings to users based on their search patterns rather than strict filter criteria. ^[15]
• AVM Integration: Through its data subsidiary PropTrack, REA pioneered the mass-market distribution of Automated Valuation Models (AVMs), allowing consumers to track the estimated value of their homes in real-time via the "realEstimate" feature.

Global Engineering Model

In 2024, the company opened REA Cyber City in Gurugram, India. This facility was noted as a pioneering "Global Capability Centre" (GCC) for the Australian tech sector, moving away from traditional outsourcing to a "co-ownership" model where Indian engineers co-develop core IP and AI infrastructure alongside the Melbourne-based teams.

Financial Performance

REA Group has seen exponential growth since its 1999 initial public offering. While the company's market capitalization was less than A$10 million in 2001, it grew to exceed A$30 billion by 2025.

REA Group Limited Financial History (1999–2026)

Fiscal Year	Revenue (A$m)	EBITDA (A$m)	NPAT (A$m)	Dividend (cps)	Market Cap (A$b)	Share Price (High/Close)
2026 (YTD)	—	—	—	—	$25.8b	$195.82
2025	1,673	969	564	248.0	$33.1b	$251.03
2024	1,453	825	461	189.0	$26.6b	$202.00
2023	1,183	651	356	158.0	$19.5b	$148.00
2022	1,170	674	408	164.0	$15.1b	$114.00
2021	928	565	318	131.0	$22.3b	$169.00
2020	820	492	269	110.0	$13.8b	$105.00
2019	875	501	295	118.0	$12.3b	$93.00
2018	808	464	280	109.0	$11.8b	$90.00
2017	671	372	206	91.0	$8.8b	$67.00
2016	627	347	204	81.5	$7.7b	$59.00
2015	523	286	176	70.0	$6.1b	$46.00
2014	437	225	150	57.0	$5.6b	$43.00
2013	347	165	110	43.5	$4.9b	$38.00
2012	277	124	86	31.0	$1.8b	$14.00
2011	238	107	72	23.0	$1.5b	$12.00
2010	193	84	52	15.0	$1.4b	$11.00
2009	158	49	29	8.0	$0.8b	$6.35
2008	155	53	32	4.5	$0.6b	$5.05
2007	104	35	21	3.0	$0.7b	$5.40
2006	64	19	11	—	$0.6b	$4.80
2005	47	11	6	—	$0.1b	$1.46
2004	28	5	2	—	$0.09b	$0.71
2003	16	1	(0.5)	—	$0.03b	$0.24
2002	9	(3)	(4)	—	$0.02b	$0.16
2001	4	(6)	(8)	—	$0.006b	$0.05
2000	2	(12)	(15)	—	$0.01b	$0.12
1999	0.4	(2)	(3)	—	$0.05b	$0.50

^{[16] [17]}

The company's revenue is primarily derived from residential and commercial property advertising, supplemented by its financial services division (Mortgage Choice) and data services (PropTrack). In FY25, the group reported a net profit after tax from core operations of A$564 million, representing a 23% increase over the previous year. ^[18]

Global Assets and Operations

As of 2026, REA Group operates as a multinational holding company with a presence in Australia, India, and North America.

Australia

The group’s flagship asset is realestate.com.au, which attracts an average of 12.6 million unique monthly visitors. Other domestic assets include realcommercial.com.au, Flatmates.com.au, and property.com.au. Its financial services division is led by Mortgage Choice, which the group fully acquired in 2021.

India

REA Group holds a controlling interest in REA India, which operates the portal Housing.com. In late 2025, the group sharpened its focus on the Indian residential market by divesting its interest in PropTiger to Aurum PropTech in exchange for a 5.5% equity stake in the listed company. REA India remains a primary growth driver, though it operates as an EBITDA-loss segment as it continues to scale against local competitors. ^[19]

North America

• Move, Inc.: REA Group holds a 20% minority stake in Move, Inc., the operator of realtor.com in the United States. The remaining 80% is held by News Corp.
• Planitar (iGUIDE): In October 2025, REA acquired a 61.5% interest in the Ontario-based Planitar Inc., the developers of iGUIDE. The acquisition was intended to integrate 3D spatial mapping and AI-driven floor plans into REA’s Australian listings. ^[20]

Venture Capital and Minority Stakes

REA Group maintains a portfolio of strategic investments in emerging PropTech and Fintech startups, including:

• Jitty: A circa 10% stake in the London-based AI-powered property search portal.
• Immersiv: An Australian startup specializing in 3D off-the-plan property visualization.
• Simpology & Athena Home Loans: Strategic fintech investments to support its digital mortgage ecosystem.

References

1. "REA Group FY25 Annual Results". rea-group.com. Retrieved 28 January 2026.
2. Akhand, Himanshi; Chatterjee, Rishav (9 May 2025). "CoStar to buy Australia's Domain in $1.9 billion deal, eyes REA's market dominance". Reuters. Retrieved 31 January 2026.
3. "Cameron McIntyre named CEO of REA Group". Mediaweek. 18 August 2025.
4. "REA Group named Australia's third best workplace". Elite Agent. 29 August 2025.
5. "Diversity, Equity and Inclusion at REA". rea-group.com. Retrieved 28 January 2026.
6. "REA Group Graduate Programs". Prosple Australia. Retrieved 28 January 2026.
7. Knaus, Christopher (29 May 2025). "Selling a house in Australia is expensive. The ACCC is investigating one reason why". The Guardian.
8. "REA Group's bid for Rightmove rejected". Mi3. 1 October 2024.
9. "realestate.com.au's proposed acquisition of Dynamic Methods raises potential concerns" (Press release). ACCC. 15 February 2024.
10. "REA Group Sues Rival Domain For Data Scraping". Online Marketplaces. 3 December 2024.
11. "REA Group Limited v Fairfax Media Limited". Lavan Legal. 7 March 2017.
12. "Melina Cruickshank resigns from REA Group after losing CEO race". Mumbrella. 5 September 2025.
13. "What is Brief History of REA Company?". MatrixBCG. December 2025.
14. "realestate.com.au launches Australia's first VR property app". Elite Agent. 11 November 2016.
15. "realestate.com.au apps revolutionise how we search for property". Real Estate Business. 8 February 2017.
16. "REA Group Investor Centre Archive". REA Group. 2026.
17. "Historical ASX Market Capitalisation Data". ASX. Retrieved 28 January 2026.
18. "REA Group Ltd Financials". Intelligent Investor. Retrieved 28 January 2026.
19. "REA Group Q1 FY26 Financial Information". Listcorp. 7 November 2025.
20. "REA Group acquires majority stake in 3D property tech company, iGUIDE". Online Marketplaces. 3 October 2025.