<a href="https://www.apartments.com.au/architects/bates-smart">Bates Smart</a> is one of Melbourne's longest standing architecture firms.

Founded in Melbourne in 1853 by Joseph Reed, the firm began as Reed &amp; Barnes and has evolved through various partnerships before adopting the Bates Smart name in the 20th century. With a continuous presence spanning more than 170 years, the practice has played a pivotal role in shaping Melbourne’s architectural identity.

In the 19th century, Bates Smart designed several of Melbourne’s enduring landmarks, including the Royal Exhibition Building (1880), a UNESCO World Heritage site, and the Melbourne Town Hall. The firm’s influence continued into the 20th century with notable works such as Ici House (1958), considered Melbourne’s first modern skyscraper and a milestone in post-war Australian architecture.

One of their landmark designs was&nbsp;The First Church of Christ, Scientist, at 336-340 St Kilda Road. The building, which is listed on the Victorian Heritage Register, was designed by Bates, Peeble and Smart with construction completed in 1922. Architecturally, the building is significant as a rare example of early twentieth century classicism applied to a religious building. Historically, the building is significant as the first church of the Christian Science movement.

Melbourne developer Time &amp; Place decided to bring Bates Smart back to the area to design their next residential apartment project, Park Modern.

[smartcode_project:default project_id=138453 project_image_fid=2138]

<a href="https://www.urban.com.au/new-apartments/park-modern-south-melbourne-1-middleton-lane-south-melbourne-vic-3205">Park Modern</a>, on one of the largest island sites on the Melbourne CBD fringe, bordered by Dorcas Street, Wells Street, and Middleton Lane, will comprise two sculptural towers. It is being positioned as a design-forward response to evolving owner-occupier preferences in the Domain precinct.

Tim Price, Director at <a href="https://www.apartments.com.au/developers/time-place">Time &amp; Place</a>, says&nbsp;Bates Smart have got a footprint on this city, probably like no other architect.

"It’s a really nice kind of next chapter story, that they created from a design perspective so long ago," Price told Apartments.com.au.

Park Modern will be the third time Time &amp; Place has worked with Bates Smart, having successfully designed and delivered Collins House and Opera on St Kilda Road together.

The brief focused on creating a built form that would feel contextually appropriate while offering a contemporary evolution of inner-city apartment living.

[smartcode_project:default project_id=138453 project_image_fid=2137]

The focus for Park Modern is squarely on owner-occupiers.

“It’s not always about downsizing," Price says.

"Sometimes it’s just about creating a space which is easily maintained, lock up and leave, reflecting people’s aspirations, whether they’re entertainers, big dining room spaces, big open terraces, they’re important parts of any design consideration.”

The building includes a mix of one, two and three-bedroom apartments, as well as penthouses, with layouts and floor plans designed to suit a broad demographic. The architecture has been shaped to capture&nbsp;view corridors to the Botanic Gardens, Port Phillip Bay and the CBD skyline.

Each apartment has been oriented to maximise natural light and provide a clear outlook, elements often cited by owner-occupiers as key criteria.

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Rather than defaulting to a generic luxury offering, the amenity strategy at Park Modern reflects specific insights into how residents want to live. The ground floor will include co-working areas, wellness facilities, and a concierge-led lobby that blends indoor and outdoor design cues.

“Wellness has become a more thoughtful consideration, not just gyms or lap pools, but things like magnesium plunge pools, saunas, daybeds, and studio spaces for Pilates and the regular cardio workout,” says Price.

One notable inclusion is a substantial porte-cochère, a covered vehicle drop-off zone integrated into the site plan. It’s a feature rarely seen in inner-urban developments and speaks to the team’s emphasis on ease of arrival and departure for residents and guests.

A display suite for Park Modern is now open by appointment, giving prospective buyers an early look at the project.

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Joel Robinson

100 years on, Bates Smart returns to South Melbourne's Domain Precinct to design Park Modern

One of the most significant beachfront projects ever proposed for the small suburb of Miami on the Gold Coast, has taken a major step forward.&nbsp;Monaco Property Group has secured approval for <a href="https://www.apartments.com.au/new-apartments/nalu-miami-122-marine-parade-qld-4220">NALU</a>, a $500 million development comprising just 45 ultra-luxury residences on the iconic former Nobby’s Outlook site.

Acquired by <a href="https://www.apartments.com.au/developers/monaco-property-group">Monaco Property Group</a> in 2024 for $70 million, the rare 7,238 sqm Marine Parade parcel boasts more than 80 metres of uninterrupted ocean frontage.

With approvals now secured, Monaco Property Group will move NALU into its delivery phase. The project has been designed by&nbsp;<a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, who collaborated with&nbsp;<a href="https://www.apartments.com.au/landscape-architect/ldg-landscape-architecture">LDG Landscape Architecture</a> and <a href="https://www.apartments.com.au/interior-designers/tom-mark-henry">Tom Mark Henry Interiors</a>&nbsp;to create the low-rise building, its landscaping, and interiors.

<img alt="NALU" data-entity-type="file" data-entity-uuid="3fdf578e-7cc4-4b17-bbc2-ba853522a5d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/122_Marine_Parade_002.jpg?VersionId=zFhJWVzX0jmCO.5iIIxNELImHesTjWS4" />

Residences will range from 237 sqm layouts to beachfront homes exceeding 1,400 sqm.

At the heart of the project is a 2,200 sqm lifestyle precinct with a bathhouse, fitness centre and resort-style pool, elevated by a concierge service.

Jonathan Grasso, Co-Founder of Monaco Property Group, said the council approval marks an exciting milestone for NALU, which will launch in Q1 2026.

“The project will now progress toward construction, working alongside our world-class collaborators to bring NALU to life," Grasso said.

“Our vision is to create a legacy project for the Gold Coast, one that not only honours the history of the site but also elevates its future, setting a new standard for coastal living in Australia. NALU embodies the pinnacle of design and location and will stand as an enduring icon of prestige and liveability.”

<img alt="NALU" data-entity-type="file" data-entity-uuid="6ae8545b-87ca-4dea-90ed-ac273ec6515d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Image7.jpg?VersionId=Wnmie4bu3x2WQonnG4Pwmh39NdZVKeOV" />

Originally developed in the 1970s as Nobby’s Outlook and later refurbished in 2019 as Nalu, the property has long held a place in the local community’s coastal identity. The new vision will build on this legacy, creating luxury residences that capture ocean views while fostering a lifestyle defined by wellness, connection, and ease.&nbsp;

Beyond its residential offering, NALU will deliver significant economic benefits to the Gold Coast through job creation and opportunities for local suppliers and contractors. Construction is anticipated to commence in early 2026, with completion expected in Q3 2028.

Monaco Property Group approved for $500 million NALU apartments on Miami beach

The most elevated residential tower in Palm Beach, <a href="https://www.apartments.com.au/new-apartments/corallo-palm-beach-5-palm-beach-avenue-palm-beach-qld-4221">Corallo</a>, has officially launched this week, however only a handful of buyers will have an opportunity to buy in to the 17-storey project.

The $200 million mixed-use project includes ground floor dining and retail and is considered so valuable its developer, <a href="https://www.apartments.com.au/developers/changfa-group">Changfa Group</a>, will be staging its release of one-, two- and three-bedroom apartments and penthouses to the market.

[smartcode_project:default project_id=112194 project_image_fid=806]

<a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a> International, Director, David Higgins, said the development’s location just metres from the beach on the corner of Palm Beach Avenue and the Gold Coast Highway influenced the sculptural design by the acclaimed Plus Architecture studio.

“<a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a> locals understand the rare opportunity here at Corallo, particularly being the tallest building in the suburb and its proximity to the beach and local restaurants, and they’ve represented the bulk of pre-launch enquiries,” Higgins said.

“The orientation of the apartments captures views of the coastline from Surfers Paradise to Currumbin, and the diversity of floor plans and apartment types provide an exceptional level of choice.

“The first release includes just 59 one-, two and three-bedroom apartments and two half-floor penthouses, with flexible use designed to appeal to both owner-occupiers and investors."

&nbsp;

[smartcode_project:default project_id=112194 project_image_fid=799]

In addition to the ground floor amenity, residents will also have access to a private dedicated wellness level offering 734 sqm of resort-style amenities including a pool, cold plunge, wet deck, steam room, sauna, gym, day bed, fire pit, barbecue area, dining area and yoga/stretch deck.

The project is located within walking distance of Tallebudgera Creek, Burleigh Heads village, Currumbin Alley and Palm Beach Currumbin High School. The Gold Coast Airport is under 10 minutes away.

[smartcode_project:default project_id=112194 project_image_fid=814]

Higgins said Palm Beach remained a hotly contested suburb for home buyers, with prices doubling in the past five years.

“What makes Corallo so appealing to the local market is the diversity of apartment types and pricing, with one-bedroom apartments starting from $841,000 and two-bedroom apartments starting from $1.34 million,” he said.

“The ground floor retail and dining offering will further expand on Palm Beach’s village atmosphere and create a meeting place for locals, and those opportunities for connection are highly valued.”

&nbsp;

[smartcode_project:default project_id=112194 project_image_fid=807]

The on-site sales display, which includes a fully fitted kitchen, bathroom and bedroom, will be open until early works commence in Q1 2026. Each residence at Corallo will feature premium finishes including natural stone, artisanal brickwork, and warm copper accents.

Changfa Group has a two-decade history of delivering premium developments in Australia and internationally, having recently completed its collection of premium townhomes at Lyra, Hope Island, as well as apartment projects in Leichhardt, Carlingford, and Chatswood in New South Wales.

[smartcode_project_cta:default project_id=112194]

$200 million Corallo Palm Beach launches with limited apartment release

In a move that aligns with NSW's accelerated planning incentives for affordable housing, developer&nbsp;<a href="https://www.apartments.com.au/developers/the-one-collection">One Collection</a> has revised its Hills District apartment plans, and taken it to the NSW Government, to secure approval.

The developer, which is currently delivering Horizon Hurstville, is seeking to add 80 more apartments to its <a href="https://www.apartments.com.au/new-apartments/the-one-castle-hill-16-dawes-avenue-nsw-2154">Castle Hill development</a> near Castle Towers. They already have approval for 280 apartments across eight six-storey buildings.

<img alt="One Collection" data-entity-type="file" data-entity-uuid="b3c298ba-1cc5-4db7-9872-607c75f8ceca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.22%E2%80%AFAM.png?VersionId=wN9KpFIu5ENSGZLLsaZgXQHrXcwEO3Vd" />

Now on the desks of the NSW Department of Planning is 360 apartments, 48 of which will be dedicated to affordable housing.&nbsp;Affordable housing is to be “fully integrated within the building and visually indistinguishable,” according to the planning submission.

The 15,697 sqm block, an amalgamation of 16 sites, spans across Dawes Avenue, Hughes Avenue, and Camdan Crescent, sits 550m from Hills Showground Metro Station.&nbsp;

"The existing context is quickly changing from free-standing homes into residential flat buildings in line with the Hills Showground Precinct planning framework," Place Studio noted.

<img alt="Castle Hill" data-entity-type="file" data-entity-uuid="3ec24948-c185-48fa-af8b-ed25adf302bf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.04%E2%80%AFAM.png?VersionId=zNDX.IeRROX1RlDeYcS38xn8w_dqgU2t" />

They said the design was informed by the site's unique condition of having three street frontages and was developed to to respond sensitively to iots surrounding context.

"The design adopted a conventional perpendicular alignment to the primary street frontage. The massing of the development was carefully modulated to align with the evolving character of the neighbourhood. The design ensured that the scale was not excessive or out of context, but instead contributed to a cohesive urban form consistent with emerging developments in the area."

<img alt="Castle Hill" data-entity-type="file" data-entity-uuid="f83ffdaa-f960-469d-b6fe-abcece57c9ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.09%E2%80%AFAM.png?VersionId=4oKlCyfaKes7jLi1_EMoqa46w2h_YvDZ" />

The apartment mix will be 46 one-beds, 168 two-bed apartments, and 146 three-bedroom units, with 631 parking spaces proposed.

Along the street frontages, the building heights are four storeys with a 7.5 metre setback, and eight storeys with an 11.5 metre setback. It should cost about $150 million to build.

One Collection works hand-in-hand with the respected development and construction firm Masscon, which has built a reputation for leveraging its expertise in the built environment to take on developments others can't. That's what they're achieving at Horizon Hurstville, having taken over the project to deliver it.

First look: One Collection advances plans for Castle Hill apartments

At Yarra’s Edge, <a href="https://www.apartments.com.au/developers/mirvac">Mirvac</a>’s newest tower under construction, <a href="https://www.apartments.com.au/new-apartments/trielle-at-yarra-s-edge-docklands-16-point-park-crescent-docklands-vic-3008">Trielle</a>, sets a new benchmark for elevated living. Rising 45 storeys, 12.5 metres from the Yarra River, the landmark building offers residents access to a private wellness retreat and spa, a resident-only golf simulator, and an elegant lounge, dining and bar complete with a self-playing piano, all without ever having to leave home.

Now, that sense of elevation has reached new heights with the Aerus Sub-Penthouses, a limited release of half-floor riverfront residences on the Collins St axis where the sought-after street meets the Yarra River.

Each Aerus Sub-Penthouse, located across levels 42 and 43, represents the most expansive offering within Trielle, aside from the yet-to-be-revealed crowning penthouses. Spanning between 269 and 301 sqm, these residences are designed to capture natural light and uninterrupted views of the city skyline, Yarra River, and Port Phillip Bay.

[smartcode_project:default project_id=114216 project_image_fid=3784]

Among the collection are three-bedroom sub penthouses, complemented by a media room, and expansive four-bedroom layouts. All include panoramic living areas and oversized master suites with luxury ensuites reminiscent of a five-star hotel, complemented by dedicated dressing rooms finished in timber and natural stone.

The interiors have been crafted by <a href="https://www.apartments.com.au/architects/mirvac-design">Mirvac Design</a>, the developer’s award-winning in-house architecture and design team. Every material has been chosen for quality and longevity, from sculpted stone island benches with feature soft wash LED lighting to bespoke joinery and chevron timber oak flooring.

Kitchens are fitted with a BORA induction cooktop with integrated downdraft extractor, alongside Gaggenau appliances, including a fridge, freezer, and wine fridge. The adjoining butler’s pantry incorporates the exclusive Gaggenau Minimalistic Series including oven, steam oven, microwave, coffee machine and warming drawer, all concealed behind handleless glass panels for a clean, integrated presentation. Bathrooms feature custom Apaisar freestanding baths and basins and natural stone benchtops, continuing Mirvac’s design emphasis on tactile, timeless materials.&nbsp;

<img alt="Trielle at Yarra's Edge, Docklands" data-entity-type="file" data-entity-uuid="c00be724-b0f1-47c0-afed-54f829870704" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Aerus%20sub-penthouse.png?VersionId=Uktd61kpLSqNjwJeDFs7IaZ3xgLlDQmu" />

Michael Wiener, Design Director at Mirvac, says The Aerus Sub-Penthouse embodies the apex of Mirvac’s design ethos.

“Moving through your home is like walking on air - a private sanctuary where the craftsmanship is refined, the proportions generous, and the flow so effortless, you feel completely at ease in the sky,” Wiener says.

“In Aerus, we wanted to create a sense of weightlessness - a home that feels suspended in the skyline, full of light, grounded in luxury.”

[smartcode_project:default project_id=114216 project_image_fid=3777]

The Aerus Sub-Penthouses are expected to attract a mix of local and international buyers seeking a long-term residence of scale and quality in a riverfront setting, from returning expats to established families and business owners who value privacy, craftsmanship, and convenience within walking distance of the CBD.

With an unmatched suite of amenities, Trielle is the most extensively appointed development Mirvac has created to date at Yarra’s Edge. Within the tower will be The Oasis, a 900 sqm podium rooftop wellness retreat designed in collaboration with spa expert Naomi Gregory. Located seven storeys above the Yarra River promenade, it features a 25-metre lap pool, spa and sauna, hot magnesium spa, biophilic gym, yoga and Pilates studio, cold-pail contrast treatment, and day spa treatment rooms. Further amenities include a piano lounge, bookable dining room, cinema room, golf simulator studio, games room, teppanyaki bar, dog wash bay, and two flexible work hubs, The Biblioteca library and Mills Place office space, catering to residents’ evolving lifestyle needs.

Construction of the $350 million tower is underway through Mirvac’s in-house construction arm, with completion anticipated for mid-2027.

[smartcode_project_cta:default project_id=114216]

Sky-high sanctuaries: Mirvac unveils The Aerus sub-penthouses at Trielle

Rea Group

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REA Group has announced its industry event series, Prop20, will be transformed into a digital experience for thousands of property professionals to benefit from.
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The new <a href="https://www.proprea.com.au/what-is-prop20/" target="_blank">Prop20 </a>virtual experience will deliver property industry insights, education and training online.
The reimagining of Prop20 followed government COVID-19 restrictions which introduced a ban on events and social distancing measures.
Prop20 offers property professionals insights from industry experts and the opportunity to learn about consumer trends and ways to position a property business for future success.
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REA Group Chief Sales Officer, Kul Singh, said customers can access the entire Prop20 event agenda online with the full suite of presentations now available.
“From a customer perspective, our priority in responding to COVID-19 has been to offer the right support measures and new products and features to help ensure they continue to operate effectively,” Kul said.
“Taking Prop20 digital is another way we’re overcoming the challenges created by COVID-19 and minimising any impacts on our customers.
Prop20 speaker and CEO of Banter Group, Valentina Borbone, said seeing Prop20 go virtual is extremely beneficial.
“There is so much value in the recorded and re-playable sessions. Re-watching the presentations I’ve heard things for the first time all over again, as my attention switches from one key moment to the next. Now is your chance. Learn, fail, learn, explore and evolve. It's our way forward,” Valetina concluded.
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j.ballantyne1990-6AQqhLzZaK

REA Group takes Prop20 event digital

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REA Group has reported a 6% decline in half year revenue to $440 million despite the rebound in house prices over the last few months.
Its management warned that it is the listing volumes that remain challenging, for them and intending buyers.
REA noted that Australian residential volumes were down 13 percent in January, with declines of 7 percent in Sydney and 5 percent in Melbourne.
It came after national residential listings declined in the second half of 2019 by 14 per cent, with a 17 per cent dip in Sydney and 16 per cent in Melbourne. New project commencements declined 30 per cent over the half-year period.
REA Group’s net profit from core operations sat at $152.9 million, a 13 percent decline on the prior corresponding period.
The company’s CEO, Owen Wilson indicated he was pleased with the resilience of the REA Group business.
“Our results demonstrate the underlying strength of our business given the unprecedented market conditions.
"We now have a record number of customers committed to our premium listing products across both buy and rent.
"Customers see clear value in our product offerings, designed to deliver the highest quality leads to help their businesses grow.”
The REA CEO remains optimistic on the future.
“Key indicators show that the Australian property market is recovering.
"We anticipate that more favourable listings conditions in the second half of FY20 will deliver a stronger revenue outcome,” Mr Wilson advised.
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REA Group report continued listings decline into 2020

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REA Group has appointed Cameron Kusher to the newly created role of executive director, economic research. 
He joins REA from Core Logic where he spent over 11 years, most recently as the Australian head of research. 
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“Working alongside our well established and influential chief economist Nerida Conisbee, Cameron will drive forward our program of economic research," REA Group CEO Owen Wilson said.
“Core to REA’s growth strategy is becoming Australia’s property data powerhouse."
"We want to provide Australians with the best research, data and insights to better inform their property decisions. 
"We are delighted to have someone of Cameron’s calibre join our team to help supercharge this part of our strategy.
"Together Nerida and Cameron will play a fundamental role informing key audience groups with market leading analysis and commentary.”  
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REA Group’s Economist team sits within the audience and marketing division of REA Group headed by chief marketing officer, Melina Cruickshank.  
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REA Group secures Cameron Kusher to lead economic research

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The REA Group has lifted third-quarter revenue seven per cent to $198.6 million.
It noted income from its Australian real estate classifieds business rose despite a drop in listings.
REA warned that the market conditions are "not expected to improve in the short term", with fourth-quarter revenue growth slowing as listing volumes given the distractions of the federal election as well as the Easter and Anzac Day long weekends in April.
The two holiday weekends led to a 22 per cent decline in national listings in April with Sydney down 39 per cent and Melbourne down 35 per cent, it said in its quarterly earnings update filed with the ASX on Friday morning.
The drop was described as "exaggerated."
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REA, which is majority-owned by News Corp, saw national listings in the three months to December 31 decline nine per cent on the previous quarter, with Sydney dropping 18 percent and Melbourne falling 12 percent.
"It's almost a decade since we've seen market conditions like these, especially in Sydney where the decline has been the most pronounced," REA chief executive Owen Wilson said in the statement.
"With the banking royal commission now behind us and the federal election taking place next weekend, we expect less uncertainty surrounding the property market as we enter the new financial year."
REA had a record 84 million visits in March, which they calculated as three times greater than Domain.
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REA Group sees listings decline especially in Sydney and Melbourne

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The REA Group’s chief financial officer Owen Wilson has been promoted to CEO of REA Group, replacing Tracey Fellows.
Fellows will <a href="/news/tracey-fellows-steps-down-as-boss-of-rea-group">step down from her role in January</a> to become president of global digital real estate at News Corp in New York.
The new CEO joined REA Group in 2014.
Wilson’s previous roles include positions at MacLeod Group, where he was CFO and company secretary, as well as chief operating officer at ANZ’s Institutional and Investment Bank.
Hamish McLennan, chairman of the REA Group board, said Wilson had played a critical role in the group’s growth.
“He has a deep understanding of the company, our long-term strategy and the importance of our customers in driving business success,” McLennan said.
"The board has a long-term commitment to succession planning, and I am pleased that this internal appointment reflects the strength of our REA Group talent,” he said.
He commences his new role on January 7 with plans to expand the real estate listings company’s Asia operations as part of his growth strategy.
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Owen Wilson promoted to replace Tracey Fellows at REA Group

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REA Group have announced the departure of Realestate.com.au chief executive Tracey Fellows, who will become the president of News Corp's global digital real estate based in New York.
She will start her new role early next year and will be responsible for driving strategy and growth across all of News Corp’s digital real estate interests.
Over her tenure, the REA Group share price has gone from $46 to $76, peaking at $94 in June.
Fellows, who took the helm in 2014 having previously been in senior positions at Microsoft and Australia Post, said it has been a privilege working the the team and the board at REA, which has News Corp as its majority shareholder.
“It’s one of the exciting things about the opportunity; it allows me to take on a new challenge while continuing to work alongside these incredible people - all in an industry I am so passionate about," Fellow said.
"I feel very fortunate. There could not be a more exciting time for a role like this.”
Fellows will stay on the REA Group board on behalf of News Corp.
News Corp chief executive Robert Thomson said Fellows is an inspiring leader and is able to bring out the best in teams and individuals.
“Tracey has driven the rapid expansion of the digital real estate business in Australia and Asia and we believe her leadership internationally will ensure that all of our digital property companies realize their extraordinary potential," Thomson said.
“Audiences, revenue and profits at REA Group have all expanded significantly during Tracey’s tenure as CEO. She has been an irrepressible innovator and has led the company into intelligent adjacencies, such as financial services and property data, which have broadened the revenue base and built a platform for future growth.
“We are keen to capitalize on our sterling success in digital real estate by driving even faster growth in our existing businesses, such as realtor.com®, where Ryan O’Hara and his team have successfully transformed the business, and in seeking out new investment opportunities.
"Tracey is the perfect person to deliver on both of those imperatives for our company and our investors.”
Hamish McLennan, chairman of the REA Group board of directors, said REA Group has seen exceptional transformation and growth since Tracey took the helm in 2014.
"She has the extraordinary ability to harness the power of people, technology and data and has built strong cultural and operational foundations that will drive our growth into the future.
"The Board and I are enormously grateful to Tracey for all she has done and wish her every success in her exciting new role and look forward to continuing to work with her.
It's the second major move by a real estate listing website this year.
Earlier this year Domain appointed former <a href="/news/domain-appoints-googles-jason-pellegrino-as-new-ceo">Google managing director Jason Pellegrino</a> after the shock departure of <a href="/news/melbournite-antony-catalanos-shock-departure-from-domain-as-family-demands">Anthony Catalano</a>.
 
 
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jrobinson-rf4aSBido9

Tracey Fellows steps down as boss of REA Group

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REA Group have announced a revenue jump despite Sydney listings shrinking over the last three months.
Listings were down eight percent in Sydney and one percent in Melbourne over the three months to September.
There was a three percent decrease in listings nationally in the September quarter.
Melbourne improved in the month of October, seeing a four percent increase in listings, while Sydney continued its downward trajectory at 12 percent less listings.
REA Group's submission to the ASX says "market conditions are not expected to improve in the short term."
They referred to the BIS Oxford forecast that new apartment commencements indicates a continued decline for the remainer of this financial year.
"Listings may be weaker in the lead up to the NSW election in MArch, while the impact of the Federal election is harder to predict," REA Group advised the ASX.
The realestate.com.au app was launched on average 27.2 million times a month during the quarter.
REA Group's revenue grew 17 percent to $221.9 million in the September quarter.
REA Group chief executive Tracey Fellows said the strong results demonstrate, despite tougher market conditions, our customers and consumers are clearly seeing value in the products and experiences we are creating.
"When it is time to buy or sell, Australians recognise they only need to visit one place."
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Last month Domain noted in the last financial quarter, Sydney new listings were down 8% and auction volumes down 22%. Melbourne results were 1% and 18% in these respective fields.
 
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Sydney property listings down eight percent: REA Group

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REA Group Limited has announced that realestate.com.au Pty Ltd has entered into an agreement to buy Hometrack Australia Pty Ltd.
The deal, subject to approval by the ACCC, is believed to be around $130 million.
Hometrack Australia is a residential property data company and a subsidiary of Hometrack Data Systems, which is owned by the UK listed ZPG Plc (Zoopla Property Group Plc).
It was only 15 months ago ZPG bought the research analysis business. They spent £120 million ($218 million).
Hometrack provides instant valuations of properties online without the need for a valuer to asses or visit the property.
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The Hometrack Australia management team will continue to be led by CEO Brendan Darcy.
Hometrack Australia is forecast to deliver revenue between $13 million to $15 million and EBITDA between $6 million to $7 million for their financial year ended 30 September 2018. 
There would also be cost synergies realised in the REA business once the Hometrack business is fully integrated into REA’s platforms.
REA Group CEO Tracey Fellows it represented a natural extension for realestate.com.au. 
"The acquisition allows us to deliver more property data and insights to our customers and consumers.”
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REA Group seeks to buy Hometrack Australia 

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The REA Group, parent group of realestate.com.au, posted double-digit rises in net profit and revenue for the year ended June 30.
“The revenue growth was driven by a 14% increase in Australia and the inclusion of iProperty revenue for the full year.
"The excellent result in Australia was achieved in a market of lower residential listing volumes and a significant decline in new dwelling commencements,” it said in an ASX announcement.
The group’s net profit rose 12 percent to $228.3 million during the period, while revenue grew 16 percent to $671.2 million.
“In Australia, we have extended our position as the clear market leader, with our audience growth reaching record highs against our nearest competitor,” said REA Group CEO, Tracey Fellows.
“We continue to diversify our business and deepen consumer engagement across the property journey. The most significant and exciting has been our move into financial services, through our partnership with NAB and our acquisition of the broking business, Smartline.”
Realestate.com.au acquired an 80% controlling stake in mortgage broking franchise Smartline. Earlier, it had announced a partnership with NAB to building a realestate.com.au-branded mortgage broking business for launch later this year.
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The REA Group is majority owned by News Corp.
REA Group operates realestate.com.au, realcommercial.com.au, and Flatmates.com.au. 
Its Australian revenue grew by 14% to $633.5 million, while agent numbers rose by 5% on the prior corresponding period, it said. 
It said realestate.com.au continued to be the number one property site in the country, with the largest and most engaged audience of property seekers. 
Average monthly visits to realestate.com.au grew 13% and were more than over 2.5 times than that of the number two site, it said.
“Australia’s listing depth revenue increased 18% to $481.8m. This was driven by the success of our residential Premiere All offering and increased yield, despite the decrease in listing volumes,” it said.
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REA Group's Australian revenue up 14% despite fall in listings and lower housing starts

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REA Group has agreed to buy a majority stake in mortgage broking franchiser Smartline and entered into a partnership for mortgage broking with National Australia Bank.
Realestate.com.au will purchase an 80.3 percent stake in Smartline.
Australian Broker report $67m will be funded from existing cash reserves and the minority shareholders hold a put option to sell the remaining 19.7 percent of shares which can only be exercised after three years, at a price dependent on the financial performance of Smartline. If not exercised, REA will acquire the remaining shares at the end of four years. The transaction is expected to complete in late July 2017.
Realestate.com.au and NAB have also agreed to build a mortgage broking service, with NAB offering its Choice Home Loans brokers to join this new broking solution.
Tracey Fellows, REA group CEO said building a strong presence in the broker market channel is an important part of our financial services strategy.
"These investments allow us to enter a new market with two of the industry’s most trusted and successful mortgage broking operations," she said. 
“Providing a broker solution will complement the digital search and finance experience we are building in partnership with NAB on realestate.com.au. It’s about giving people greater choice when selecting the right home loan for them." 
Chris Acret, Smartline executive director and co-founder said this investment is a great strategic fit for both businesses.
"It’s born from a shared vision to build a market-leading home loan offering, marrying our trusted network of brokers with realestate.com.au’s leading digital capability,” he said.
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