Homely achieves significant 20.5% revenue growth despite challenging market conditions
Highlights from Homely’s full-year results
- 20.5% YoY revenue growth
- Almost 700 industry partners, including many of Australia’s top-ranking principals, agents and influencers
- Increase of 29.3% direct enquiries and 51.2% indirect enquiries on property listings
- 39.2% increase in engaged consumer subscribers across all platforms over the past 12 months
Homely Group Pty Ltd, one of Australia’s largest real estate portals, today announced its revenue results for the financial year 2023, with a significant 20.5% increase in revenue compared to the previous year. This result demonstrates the Group’s operational resilience and growth in a challenging economic environment.
“The real estate industry continues to grapple with uncertainties, yet Homely has once again proven its ability to thrive in challenging conditions,” said Jason Spencer, Co-Founder and Co-CEO of Homely. “Our strong revenue growth is a direct result of our team’s commitment to growth, innovation and focus on providing value to our customers in an environment where our competitors continue to increase their prices.”
Homely Group’s momentum continued into the first half of 2023, with a 14.8% year-on-year increase over the same period last year. This marks the 3rd consecutive year that Homely has achieved positive growth.
A key driver behind Homely’s recent standout results is the increase in agencies around the country who have taken up its competitive advertising product, Homely Plus. The portal’s cost-effective digital advertising product has seen a surge in sign ups as agents look for more views to their listings in the downmarket. In the last few weeks alone, Homely has welcomed more than 35 new offices onto its Homely Plus advertising packages.
“Our continued success reflects our focus on developing industry solutions that are cost effective. Our Homely Plus membership has been developed with this in mind to add value to our agent partners, while showing their listings to more buyers and sellers on Homely than ever before.” said Adam Spencer, Co-Founder and Co-CEO of Homely.
Homely’s core digital advertising revenue continues to increase year on year while the company increases market share through its Homely Plus memberships. The portal is widely supported by many in the Australian real estate industry with nearly 700 strategic industry partners including some of the countries top real estate principals, directors and influencers.
Adam continues, “Homely Group continues to receive growing support from an industry hungry for a paradigm shift. Our products are designed to add value and support agents, while providing affordable but powerful reach for vendors and landlords looking for maximum exposure.”
Adam Spencer points to the investment in engineering, digital marketing and SEO as the foundation for its exponential success and award-winning user experience. “We are constantly trying to better the experience for buyers, sellers and renters as our site traffic and engaged user base grows across the nation. We are well on track to create the seismic change we want to see in the Australian property industry” he said.
“We are proud of our team’s hard work and dedication that has led to these outstanding results. As we move forward, we remain committed to driving continued revenue growth and value to our agents and strategic partners.”
Homely.com.au is an Australian online real estate search website redefining the way people find their home. Homely combines real estate listings from all over the country with unique local content including suburb reviews, street reviews and Q&A from real locals, helping people make better informed decisions when buying, renting or selling. Founded in 2014 by brothers Jason and Adam Spencer in Melbourne, Homely has grown into a large team of passionate designers, engineers, developers, marketing, product, sales and customer support people across the country. Boasting millions of eyeballs to the site each month – and growing – Homely remains clutter-free for a beautiful browsing experience, ensuring the site is focused on property listings and quality enquiries, not third-party ad traffic. As the largest industry-backed portal in Australia, Homely delivers the cost-effective advertising alternative the real estate industry needs. The Homely app is available for download on the App Store and Google Play. Learn more about Homely here.