Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

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Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Joel Robinson

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

Seasoned Victorian apartment developer <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a> has logged more than $400 million in sales in its luxury apartment project Palmera Residences at Northcliffe on the Gold Coast.&nbsp;

Central Equity Director Karl Kutner said the sales result reflected a combination of location, product quality and delivery certainty with the project already under construction by building powerhouse Multiplex.&nbsp;

"Surpassing $400 million in sales since launch is a significant milestone and an outstanding endorsement of <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera Residences</a>,” he said.&nbsp;

"We believe one of the key reasons for this strong result is the confidence purchasers have in knowing the project is under construction with Multiplex. Buyers are increasingly looking for certainty. They want to know that the project they commit to today will be delivered by an experienced team with a proven track record."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365782]

Kutner said it was clear there was still high demand for luxury projects that offered certainty of delivery.&nbsp;

“We are in a market where many residential developments have faced delays due to rising construction costs, labour shortages and financing challenges,” said Kutner.&nbsp;

"But having construction underway has provided our buyers with resounding confidence backed by more than 40 years of development delivery by Central Equity combined with construction by one of Australia's most respected construction companies."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365785]

Central Equity is one of Australia's most experienced privately-owned property developers. Over more than four decades, the company has delivered in excess of 85 residential developments including 10,000 apartments and many thousands of stand alone homes.&nbsp;

Located on Garfield Terrace at Northcliffe, between Surfers Paradise and Broadbeach, Palmera Residences occupies one of the Gold Coast's most sought after beachside locations. The development has been designed to appeal to owner occupiers seeking premium residences that combine generous living spaces and resort style amenities.&nbsp;

Palmera Residences will feature an exceptional collection of resort style amenities, including two swimming pools: a generously sized family pool with safe shallow zones for relaxed recreation, and a 20 metre lap pool positioned to maximise all day sunlight.&nbsp;

Residents will also enjoy exclusive access to wellness and recreational facilities including a magnesium pool, sauna, yoga studio, expansive fitted gymnasium, resident lounge, outdoor BBQ’s&nbsp;and indoor and outdoor dining areas, together with a dedicated concierge and luxurious hotel inspired entrance foyer.&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365767]

A unique feature at Palmera Residences has been designed to enhance the Gold Coast lifestyle which includes both indoor and outdoor gymnasium facilities, together with thoughtfully designed indoor and outdoor dining and entertaining areas. A corner café has also been incorporated to provide residents with a destination for their everyday needs.&nbsp;

Kutner said buyer demand had been broad based with purchasers attracted from interstate as well as throughout South East Queensland.&nbsp;

"We're seeing strong interest from owner occupiers, lifestyle buyers and people relocating to the Gold Coast. Many purchasers have been searching for a premium beachside residence where quality, design and delivery are equally important."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365771]

Kutner said the sales milestone was an important achievement, but the focus remained firmly on delivering an exceptional development.&nbsp;

"While reaching $400 million in sales is an important milestone, our priority remains delivering a project that exceeds purchaser expectations,” he said.&nbsp;

"Palmera Residences has been designed to become one of the Gold Coast's landmark residential addresses, and we look forward to welcoming our purchasers to their new homes."&nbsp;

There are a limited number of residences remaining in selected configurations with pricing from $2,950,000 to $8,950,000. Palmera Residences is also crowned by expansive penthouses with wrap around views.

[smartcode_project_cta:default project_id=108274]

Construction certainty and strong buyer demand drive major sales result for luxury Gold Coast development

Palmera Residences fly out the door as sales pass $400 million

National property developer <a href="https://www.apartments.com.au/developers/goldfields-group">Goldfields</a> has appointed BINAH as its construction partner for Quartet, its new Brisbane apartment development in the undersupplied suburb of <a href="https://www.apartments.com.au/developments/milton-qld-4064">Milton</a>.

Located just two kilometres from the Brisbane CBD and moments from key 2032 Olympic precincts, <a href="https://www.apartments.com.au/new-apartments/quartet-milton-33-manning-street-milton-qld-4064">Quartet</a> will deliver 131 one, two, three, and four-bedroom apartments priced from $1 million to $4.2 million, combining elevated design with a wellness-focused lifestyle offering.&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=368000]

Goldfields’ Chief Executive Officer, Lachlan Thompson, said the appointment of <a href="https://www.apartments.com.au/builders/binah-constructions">BINAH</a> marked an important milestone for the project.&nbsp;

“Bringing BINAH on board as our construction partner will allow us to bring our vision for Quartet forward with a team that has a proven track record of delivering high-quality residential projects,” Thompson said.&nbsp;

“We’ve taken a considered approach to progressing the site because we wanted to deliver the whole package. Buyers ultimately back great developers, great projects and great builders, and with Quartet, we’ve made sure all three line up.

“People want certainty, they want to know the project will be built, that the homes will be delivered as promised, and that the developer stands behind the quality of what they create. That’s something Goldfields has built its reputation on over many years.”&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=367993]

BINAH’s Managing Director, Khalil Hafza, said the company was proud to be partnering with Goldfields to deliver Quartet.&nbsp;

“Quartet is an exciting project to bring to life, particularly given the level of detail in the residences and the extensive rooftop amenity planned for the building,” Mr Hafza said.&nbsp;

“Our focus is on delivering a high-quality build that brings that design vision to life and creates homes residents will enjoy for many years.”&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=367999]

The facilities at Quartet have been feared towards the roof, with a&nbsp;25 metre lap pool, spa, sauna and cold plunge, and a communal barbecue area and alfresco.

Town planning was designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and brought to life by Melbourne-based architecture firm Cera Stribley.

<a href="https://www.apartments.com.au/interior-designers/cera-stribley">Cera Stribley</a> Co-Founder and Managing Principal, Dom Cerantonio, said the project responds to both its riverside setting and Brisbane’s evolving urban character.&nbsp;

“Quartet has been designed to sit comfortably within its riverside context, offering a refined take on urban living through well-planned, generously proportioned residences that will stand the test of time,” Mr Cerantonio said.&nbsp;

“An emphasis on natural light, natural textures and carefully selected finishes from timber and marble to premium appliances, creates calm, considered interiors designed for comfort and long-term liveability.”&nbsp;

Construction of Quartet will commence in July 2026, with completion anticipated in Q4 2028.

[smartcode_project_cta:default project_id=108736]

Construction to commence on 131-residence tower designed around wellness-focused living

Goldfields appoints BINAH for Quartet apartments in Milton

The first partnership between national developer <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> and Adelaide-based developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> has made a strong start, with the pair securing $21 million in unconditional sales at <a href="https://www.apartments.com.au/new-apartments/one-four-four-hutt-adelaide-144-hutt-street-adelaide-sa-5000">One Four Four Hutt</a>&nbsp;on the edge of the Adelaide CBD.

Over a third of apartments have been snapped up in the boutique 44-apartment project on the corner of Hutt Stret and Wakefield Road. Local downsizers and owner-occupiers wanting to remain in Adelaide's tightly-held southeast quarter have been the most prominent purchasers.

The DKO-designed, mixed-use development is one of the few new apartment projects in the precinct, an area where new housing supply has remained limited despite continued demand from buyers wanting to stay close to the CBD, Victoria Park and Adelaide's established east-end amenities.

[smartcode_project:default project_id=151233 project_image_fid=375378]

Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.

"The level of early commitment reflects the confidence local buyers have in the Hutt Street precinct," Dendrinos said.

"Many purchasers are long-term east-end residents who love the area and want to stay connected to the neighbourhood. They recognise the value of a well-designed, well-located development.

"Our partnership with Otello has been central to this success, and the number of unconditional sales at this stage only strengthens our confidence in the South Australian market."

[smartcode_project:default project_id=151233 project_image_fid=375379]

Otello Director Daniel Harris said the sales result also highlighted the lack of new apartment opportunities within the Hutt Street precinct.

"One Four Four Hutt has clearly resonated with buyers, with strong early sales reflecting both the appeal of the Hutt Street corridor and the lifestyle on offer," Harris said.

"The activated ground-floor retail has also been a key drawcard, with purchasers responding to the vision of a more vibrant and connected streetscape, not just the residences themselves."

One Four Four Hutt will deliver 44 one, two and three-bedroom apartments, alongside a collection of penthouses, above a ground-floor retail offering designed to further activate the Hutt Street precinct.

Construction is scheduled to commence in the third quarter of this year, with completion anticipated in 2028.

[smartcode_project_cta:default project_id=151233]

Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.

Fortis makes Adelaide debut with Otello as One Four Four Hutt records strong early sales

Rea Group

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Henry Ruiz has been appointed CEO, REA Group Asia.
He has been acting in this position since March 2017 and is responsible for the Group’s Asia business including iProperty Group across Southeast Asia and Chinese property site myfun.com.
Mr Ruiz reports to REA Group CEO Tracey Fellows and will keep his his position on the Board of PropTiger, the Group’s joint entity in India.
Tracey Fellows said Asia is a key region in our long-term growth strategy and Henry has made a big contribution since he took on the interim role.
"He is well placed to continue to lead our Asia business and execute our regional strategy,” he said.
“We are focused on creating innovative consumer products and drive better value for our customers.
"This includes the launch of new iOS and Android apps in Hong Kong, Malaysia and Indonesia in the last few months which leverages the leading experiences we’ve created in Australia to help people search for their dream home.”
Henry Ruiz, CEO REA Group Asia said the chance to transform the way people search for and buy homes in a region which is still so early in its transition to digital real estate advertising is very exciting.
“Our purpose is to change the way the world experiences property and we have a real opportunity to do this in Asia,” he said. 
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REA Group confirms Henry Ruiz as CEO REA Group Asia

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Rental property listings on realestate.com.au will now be featured on the share accommodation website Flatmates.com.au.
Users of Flatmates.com.au will be able to select a 'Teamup' function with people looking for accommodation in the same location.
Andrew Rechtman, REA Group Executive General Manager – Residential, said flatmates.com.au is Australia’s biggest website for people searching for share accommodation, with someone finding a new flatmate every two minutes.
“By syndicating realestate.com.au rental listings on Flatmates.com.au, we’re creating an opportunity for agents to not only increase the exposure of their listings, but also to reach a previously untapped audience,” he said.
Thomas Clement, Flatmates.com.au CEO said people who team up on Flatmates.com.au will head to realestate.com.au to find a rental once they’ve found each other.
“Displaying rental listings on Flatmates.com.au provides members with a seamless experience and showcases the rental properties to an entirely new audience,” he said.
 
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Realestate.com.au rental listings to feature on Flatmates.com.au

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Melbourne and Sydney house prices are forecast to continue rising, despite financial regulators’ attempts to rein in the hot markets.
REA Group has reported buyer demand through realestate.com.au searches was up 26 percent on the same time last year, with increased buyer visits of 37 percent in NSW and 36 percent in Victoria.
REA Group chief economist Nerida Conisbee said APRA’s cooling measures had failed to “stem the skyrocketing prices’’ in Sydney and Melbourne.
She noted buyer demand continues to accelerate across the country.
New South Wales
Continuing to attract high levels of interest. Given the relatively low development of apartments in NSW, it was surprising to see that unit demand weakened in March.
It’s likely that affordability issues are beginning to impact demand in the state.
Victoria
The measures to encourage more first home buyer activity have led to renewed confidence in the market, further accelerating demand.
After Northern Territory, Victoria saw the strongest level of growth in demand over the month of March.
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<a href="https://www.propertyobserver.com.au/images/2017/04/05/Screen%20Shot%202017-04-05%20at%209.55.01%20am.jpg" target="_blank">Click to enlarge</a>
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In Melbourne, despite concerns about oversupply of apartments, buyer demand remains elevated.
Queensland
A drop in demand for units suggests that high levels of supply, particularly in Brisbane, are having a more negative impact.
On the positive side, the pipeline of new apartments in Brisbane remains low, which will give the market time to absorb current stock.
South Australia
Demand from buyers remains stable in South Australia with apartment demand seeing higher rates of growth than houses.
This perhaps reflects a slowing new development market in Adelaide where a large number of new apartments have now been completed.
<a href="https://www.propertyobserver.com.au/images/2017/04/05/Screen%20Shot%202017-04-05%20at%209.55.08%20am.jpg" target="_blank">Click to enlarge</a>
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Tasmania
Continues to be the strongest market in Australia, attracting interest from local buyers, interstate and overseas.
Western Australia
Demand levels continue to decline in Western Australia, however the number of people looking to buy on realestate.com.au is as its highest level since May 2016, with this demand o set by an increase in listings on the index.
Confidence in the market from sellers and buyers appears to be improving, although it is difficult to predict if this will be sustained.
Australian Capital Territory
There was a small decrease in demand in the month of March in Australian Capital Territory, but overall it remains strong with the index seeing a 50% increase year-on-year.
Northern Territory
The market is now showing sustained increases in demand, suggesting that the Northern Territory is on the way back up.
<a href="https://www.propertyobserver.com.au/images/2017/04/05/REA%20Group%20Property%20Demand%20Index%20infographic-BUY.jpg" target="_blank">Click to enlarge</a>
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Rental demand remains strong, but over-supply is a concern in Queensland.
Demand for rental properties on realestate.com.au hit a record high in March 2017 as rental properties available for lease failed to keep track with the growth in people looking to rent.
New South Wales
Sydney is now the least affordable city for renters in Australia.
Despite high costs, demand from renters remains high and continues to accelerate.
This may be partly to do with buyer unaffordability, but it’s also likely that jobs growth is a factor.
<a href="https://www.propertyobserver.com.au/images/2017/04/05/Screen%20Shot%202017-04-05%20at%209.57.16%20am.jpg" target="_blank">Click to enlarge</a>
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Victoria
Surprisingly given the high levels of development in Melbourne, Victoria saw the strongest growth in demand after Australian Capital Territory.
Demand continues to increase for both apartments and houses suggesting that the level of development taking place in this state is being absorbed by the market.
This has been supported by recently released jobs and population growth numbers.
Queensland
Queensland is the country’s most concerning market.
Buyer demand declined slightly over the month, but there was a larger drop in rental demand on realestate.com.au.
Brisbane in particular is seeing high levels of development and dropping rental demand suggests that the market in Queensland will continue to take some time to absorb the supply.
<a href="https://www.propertyobserver.com.au/images/2017/04/05/Screen%20Shot%202017-04-05%20at%209.57.26%20am.jpg" target="_blank">Click to enlarge</a>
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South Australia
Rental demand softened slightly in March, likely reflecting a recent high number of new apartment completions.
Given that the pipeline of new development has now slowed, it is likely that this will be a short- term decline.
Tasmania
This state has seen very little development for some time and high rental demand combined with high buyer demand suggests that more new housing could be developed.
Western Australia
Conditions in Western Australian remain challenged with a slight decrease in renter demand in the month of March.
Australian Capital Territory
There was a small decrease in demand in the month of March in Australian Capital Territory, but overall it remains strong with the index seeing a 50% increase year-on-year.
Northern Territory
Demand from renters in Northern Territory is now also seeing sustained demand.
Like the buy market, it’s likely the rental market is on the way up.
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Cooling measures do little to stem property demand as price increases: Realestate.com.au

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Two of India's online real estate service providers are merging with REA Group investing some US$50 million in the new company.
Once merged, the two portals, PropTiger.com and Housing.com, will become the only player in India offering the full range of online and offline real estate services.
PropTiger is the largest online residential real estate brokerage firm, with Housing.com an online platform for buying and selling homes.
News Corp remains the largest shareholder of PropTiger, and also owns 61.6 percent of REA Group. Representatives of REA and Softbank will join the board of the joint entity, which will continue to be chaired by a News Corp representative.
The board will include Henry Ruiz, chief digital officer, REA Group, Simon Barnett, sales director, News Corp and Jonathan Bullock, managing director, Softbank Group International will join Raju Narisetti (chair), Ravi Adusumalli from SAIF Partners and Prashanth Prakash from Accel Partners as investor directors on the board of the joint entity. 
Dhruv Agarwala, co-founder and CEO of PropTiger, will serve as CEO of the joint entity. Jason Kothari, CEO of Housing.com will move on.
Tracy Fellows, REA Group chief executive officer said India is an important part of their international growth strategy.
"We believe in the potential of the Indian real estate market. REA invests in companies that are leaders in their markets. The joint entity will have access to REA Group’s expertise and know-how from its operations across the globe,” she said.
Robert Thomson, News Corp chief executive said with 1.2 billion people and a rapidly growing economy and middle class, India’s future as a real estate powerhouse is exceptionally bright.
"Clearly there is a compelling commercial purpose to the deal, but we also firmly believe in providing transparency, analysis and insight so that all Indian families, regardless of traditional background or means, will have a better understanding of the property market,” he said.
Jonathan Bullock, managing director, Softbank Group International said PropTiger has already created a great transaction engine.
An affiliate of Softbank Group Corp is investing US$5 million. 
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REA Group invest US$50 million in Indian property portal

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REA Group has agreed to sell its European businesses for $189.7 million to the UK's Oakley Capital Private Equity.
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The digital real estate advertising company, which owns Australia's realestate.com.au website, will sell atHome Group S.a r.l. and REA Italia S.r.l. which operate in Luxembourg, France, Germany and Italy.
REA Group said the sale will yield a profit of $168 million.
The announcement said it will allow the company to sharpen its focus in key growth markets in Australia, Asia and North America.
Oakley Capital has digital interests and a geographic focus in Italy, including Facile.it, a Milan-based price comparison website.
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REA quitting European property portals

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REA Group has constructed a technology and invention space in Melbourne's Richmond to create, trial and launch the newest technologies for consumers to experience property.
REALABS will house a range of new technologies such as virtual reality, augmented reality, drones and robotics and will become the training centre for the Group’s global graduates, design engineers and product teams. 
Nigel Dalton, chief information officer has been appointed chief inventor.
The role of chief engineer role will replace that of the chief information officer, with a global search to fill the role underway.
REALABS will officially open in November 2016. 
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Former REA Group CIO Nigel Dalton named chief inventor, gifted tech think tank

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REA Group had another record year for revenues and profitability, as it plays a key role in News Corp's establishment of the world’s leading digital property business.
The real estate website REA Group has posted a full year profit of $214.5 million, up 16 percent on last year.
But the company said uncertainty surrounding the July Federal election outcome contributed to July listings being down 11 per cent compared to July last year. 
The bulk of its revenues came from its two Australian websites - $555 million out of group revenues of $630 million. Its European websites had revenues of $51 million and the Asian websites $24 million.
The result followed a 20 percent growth in revenue, with the company recording revenue of $629.8 million, REA group CEO, Tracey Fellows said indicating its international expansion was a key factor.
<img src="https://d1pet9gxylz2tx.cloudfront.net/uploads/2016/08/REA-financial-results-468x89.png" alt="REA financial results" width="468" height="89">
The results followed further global expansion with its acquisition of iProperty Group in South East.
"We also launched the global property network giving consumers access to more than three million listings from 56 countries.
“We have also further cemented our leadership position in Australia on the back of record audience engagement.
"This is particularly pleasing given residential listing volumes were lower in the second half.”
Its international digital real estate websites delivered a 71 percent improvement in earnings before interest, depreciation and amortisation to $344 million – which included a $US122 million gain from a court settlement against Zillow, a competitor to News Corp's Move business.
<a href="https://www.propertyobserver.com.au/images/2016/08/09/Screen%20Shot%202016-08-09%20at%2011.46.32%20am.png" target="_blank">Realestate.com.au's page figures</a>
<img src="https://www.urban.com.au/images/2016/08/09/Screen%20Shot%202016-08-09%20at%2011.46.32%20am.png" alt="" width="404" height="193">
The News Corporation chief executive Robert Thomson has tipped real estate businesses, led by REA, Move and iProperty, to become the biggest driver of earnings.
Thomson said that digital real estate is "reshaping the growth profile of News Corp." 
REA Group is majority owned by News Corp and operates the realestate.com.au and realcommercial.com.au websites. 
<a href="https://www.propertyobserver.com.au/images/2016/08/09/Screen%20Shot%202016-08-09%20at%2011.48.27%20am.png" target="_blank">Realestate.com.au offers the most properties</a>.
<img src="https://www.urban.com.au/images/2016/08/09/Screen%20Shot%202016-08-09%20at%2011.48.27%20am.png" alt="" width="610" height="260">
The REA Group also owns a 21 per cent stake in iProperty Group, a stake in myfun.com, online real estate websites in France, Italy, Germany and Luxembourg, and equity in two US real estate websites, including a 20 per cent stake in Move Inc.  
Fairfax Media, who recently reorganised its financials so it could details on Domain revenue, reports its update this week too.
It revealed last week Domain revenues were $223 million in 2014-15 and $113 million in 2013-14. 
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Realestate.com.au revenue up 20 percent despite fewer local listings

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The property website REA Group has bought Australia’s largest share accommodation website, Flatmates.com.au for $25 million.
The move sees REA, which operates Australia’s largest property portal Realestate.com.au, buy 100% of the Australian business.
It has also agreed to an earn-out with its founders based on an international expansion.
REO Group CEO Tracey Fellows said there was enormous growth in the sharing economy.
"The share accommodation segments in the Australian property market with traffic across the sector growing at over 50 year-on-year." 
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jchancellor-FAypfDUnLy

REA buys flatmates.com.au

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GUEST OBSERVER
When Australian media company Fairfax reported its recent results, the improved performance of its online real estate business, domain.com, appeared to violate a widely held “law” of the digital economy - that digital creates a winner which takes all markets.
After a number of years trailing behind News Corp Australia owned realestate.com.au (REA), domain.com appears to have narrowed the gap with its major rival and its aggressive strategy of growing its user base is translating into improved revenue.
Closer examination however suggests this result might just be a temporary pause in a much more profound transformation taking place for digital in the residential real estate industry. One that is likely to see the emergence of a new set of players.
<h2>Can there only be one?</h2>
It’s become commonplace for observers of the digital economy to claim that digital creates “winner takes all” markets. The classic example is Google’s dominance in the search market. Estimates suggest Google accounts for more than 75% of search, and almost 90% of organic search traffic, with its major rivals, Microsoft’s Bing and Yahoo struggling to get out of single digits. This effectively places Google in a monopoly position and allows it to create enormous revenues through products like paid search and adwords.
Using this example it would be tempting to conclude that REA, having established a healthy lead over domain.com in terms of unique visits and exclusive listings, would pull away from its Fairfax rival and come to dominate the Australian residential real estate market.
Instead, Domain is closing the gap on its rival. In part this reflects domain.com’s aggressive strategy of driving traffic to its site, one that ironically parallels the approach taken by News-owned carsguide.com.au in its battle with caresales.com.au. It also suggests that domain.com’s focus on the user experience is beginning to pay off.
Unlike REA, which has made a virtue out of outsourcing all its development, Domain has retained inhouse development expertise and this has given it the ability to more rapidly add new features that enhance the user experience, such as its mapping functionality.
While there are important lessons here for business about not giving up and continuing to focus on the customer, viewed in longer perspective, it’s hard not to conclude that domain.com’s improved performance might just be a temporary reversal of a much more significant transformation taking place in the domestic real estate market.
There can hardly be a market more ripe for disruption than residential real estate. Australian residential housing stock is worth an estimated A$5 trillion and the market is riddled with the type of information asymmetries and inefficiencies that emerging technologies are ideally suited to address. While REA and domain.com have displaced the listing of properties in newspapers, they have hardly transformed the industry. Rather they seem to offer a digital version of traditional real estate listings with a few additional bells and whistles. Both are underpinned by largely similar revenue models.
<h2>Reinventing the market</h2>
It’s worth remembering that before Google, search was dominated by Yahoo, Alta Vista and Netscape. Google transformed search by developing an algorithm based on relevancy that improved the results users gained from searching the web and by rethinking how it monetised search. Rather than try to keep users on its page and bombarding them with advertising, Google directed users away from its page and towards the pages they were looking for. It’s reasonable to expect that the residential real estate market is likely to undergo a similar transformation over the next few years.
It’s interesting to compare the very traditional approach of realestate.com and domain.com with the radically different business models that are emerging in startups looking to disrupt the residential real estate market.
A good example is openagent.com.au, an Australian-based startup founded by two young women who started their careers in consulting. Recognising the highly localised nature of real estate markets and the importance of agents, openagent.com.au takes advantage of publicly available data sets and user reviews to provide sellers and buyers with reviews and metrics on agents in their local areas.
Rather than attempt to charge users for accessing the information, or agents for better listings, openagent’s revenue comes from the referral fees payable by agents who get listings as a result of the reviews on the site. This is a much purer digital play than either REA or domain.com. By providing them access to data in a usable form openagent.com.au seeks to empower buyers and sellers and increase transparency in this very opaque market.
Perhaps the most important lesson Fairfax could draw from the performance of domain.com is not that the winner takes all logic of digital markets is reversible, but that they should have the courage of their convictions and go all in on digital, in the residential real estate market. Rather than just try to close the gap on REA it should be seeking to build a business that will do away with the need for businesses like domain.com at all. It might just find that if the solution it develops is good enough, the law of winner takes all will reassert itself.
Nick Wailes is associate dean Digital and Innovation, UNSW Business School, UNSW Australia and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/nick-wailes-108369" target="_blank">here</a>.
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Domain versus REA shows it’s time Fairfax went all in on digital

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Sky News have teamed up with REA Group to televise Saturday auctions as part of a new TV partnership.
The two companies believe that people who trawl the REA Group website www.realestate.com.au will be the majority viewers of the 8am to 2pm Saturday slot.
According to Sky News Australia chief executive Angelos Frangopoulos it will be the people who sell the properties who could prove to be the real interest.
"Our great strength is live coverage and telling stories as they happen," he said.
"It's a great opportunity for REA and Sky News to leverage each other's strengths"
REA chief executive Tracey Fellows agreed by suggesting the partnership takes Sky News programming and broadcasting expertise and combines it with their insights and knowledge.
Anchored by host Bridie Barry, the broadcast will also offer advice for homeowners and investors and will roll out this month.
Each Saturday Sky News Business (Channel 602) becomes Sky News Real Estate featuring live auctions, expert advice for home buyers, sellers and investors, home improvement, technology, architecture and dream homes.
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