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A real-estate bubble is a form of economic bubble normally characterised by a rapid increase in market prices of real property until they reach unsustainable levels relative to incomes and rents, and then decline. Australian house prices rose strongly relative to incomes and rents during the late 1990s and early 2000s; however, from 2003 to ...
In January 2017, REA Group acquired 14.7% of digital real estate marketing platform, Elara Technologies (Elara). [12] In June 2018, the company acquired 100% of Hometrack Australia, [13] a provider of property data services to the financial sector. In 2020, the company earned A$820.3 million in FY20 revenue. [14]
Public transport mode share in Melbourne is around a mere 10%, while many regional Victorian towns are lower. In the late 2000s, private housing prices in Australia, relative to average incomes, were among the highest in the world, prompting speculation that the country was experiencing a real estate bubble similar to many other countries. [1]
The Domain Group is best known for its real-estate portal domain.com.au, which is Australia's second largest real-estate marketing business, with 90% market penetration. [14] It competes directly with market leader REA Group, running real-estate.com.au, which is majority-owned by Nine rival News Corp Australia. [15] [16]
The company was founded in 1895 as Peet and Bastow by James Thomas 'JT' Peet (1862-1935). 4 James Peet was a surveyor and draughtsman who left England for Australia in 1888. After a short time in Queensland, he moved to Victoria where he established a real estate partnership with architect Austin Bastow in Melbourne.
LJ Hooker is one of Australia's largest real estate groups, with 600 franchise offices and 6,000 people engaged in residential and commercial property sales and property management. [1] [2] The company was founded in 1928 by Sir Leslie Joseph Hooker and after being sold to a private company for 20 years, the company returned to family hands in ...
The GPT Group is a Real Estate Investment Trust (also known as an Australian Stock Exchange listed stapled entity). The Group has been publicly listed in Australia since April 1971, and is one of Australia's largest diversified listed property groups. [1] [2] [3]
The joint venture created UBS Grocon Real Estate, a full-service real estate and asset management platform that had first right of refusal for Grocon's A$2 billion development pipeline. [11] The venture was chaired by John A. Fraser , chairman and CEO Global Asset Management at UBS [ 12 ] and Daniel Grollo acted as a non-executive director.
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