Homely grows revenue 20.5% in challenging market conditions

Homely grows revenue 20.5% in challenging market conditions

Homely Group has announced its 2023 financial year top-line results, reporting a 20.5% increase in annual revenue. 

Other significant FY23 highlights include a 29.3% rise in direct enquiries on property listings, 51.2% jump in indirect enquiries and a 39.2% increase in engaged consumer subscribers across all platforms.

Co-founder and co-CEO Jason Spencer said that while the real estate industry had continued to grapple with uncertainties, Homely had once again proven its ability to thrive in challenging conditions.

“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,” he said.

One of Australia’s largest real estate portals, Homely.com.au is supported by almost 700 strategic partners in the Australian real estate industry. 

A key driver behind its third consecutive year of positive growth is the number of agencies nationally which have taken up its digital advertising product, Homely Plus. More than 35 new offices have signed on to the product in the past few weeks.

Co-founder and co-CEO Adam Spencer said Homely’s continued success reflected a focus on developing cost-effective industry solutions.

“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,” he said.

“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. 

“As we move forward, we remain committed to driving continued revenue growth and value to our agents and strategic partners.”   

Homely combines nationwide real estate listings 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.