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In 2010, the company created an iOS mobile application for realestate.com.au. [6] REA bought 20% of US company Move, inc. in 2014, [9] which runs the United States real estate listings website Realtor.com. This was the company's first move into North America.
The property prices are soaring in major cities like Sydney, Melbourne, Adelaide, Perth, Brisbane and Hobart. [3] The median house price in Sydney peaked at $780,000 in 2016. [ 4 ] However, with stricter credit policy and reduced interest from foreign investors in residential property, prices have started falling in all the major cities.
US house price trend (1998–2008) as measured by the Case–Shiller index Ratio of Melbourne median house prices to Australian annual wages, 1965 to 2010. As with all types of economic bubbles, disagreement exists over whether or not a real estate bubble can be identified or predicted, then perhaps prevented.
2009: December - Reporting of RE data was questioned by one source: "AVERAGE house prices have been overstated by up to 18 per cent by the real estate industry . . . In September the average house price quoted by the Real Estate Institute of Victoria was $67,000 higher than the official figure, based on preliminary valuer-general data . . "[48]
Domain Group (or simply Domain) is an Australian digital property portal and associated real-estate industry business. It is best known for its real-estate website domain.com.au, and also owns the brands commercialrealestate.com.au and allhomes.com.au.
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 skyline of Melbourne in January 2024, as viewed from the Shrine of Remembrance. Melbourne is home to approximately 758 completed high-rise buildings. [1] Of those completed and or topped-out, 77 buildings are defined as "skyscrapers"–buildings which reach a height of at least 150 metres (490 ft); more than any other city in Australia.
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.