Property has led the charge in online ad spending with Australia experiencing the fastest growth in the advertisement market in five years, reports AdNews.

The real estate sector had the largest bump in online ad spend, according to the latest IAB/PwC Online Advertising Expenditure Report, increasing its category share to 13.2 percent from 10.8 percent from the previous year.

The report also found online ad spend grew by 29.7 percent to $6.8 billion in the year to 30 June 2016.

The rapid rise of advertising on smartphones and tablets has triggered the boom, says the report.

General display advertising posted the largest increase of 43.3 percent to $2.5 billion, which was its highest year-on-year growth since the inception of the report 13 years ago.

Video advertising for desktop and mobile as also strong, growing by 55 percent to $600 million and now makes up nearly a quarter of all online display.

“Another year of double-digit growth, driven by the continued rise of the mobile and video category, means that online advertising heads closer to half of all advertising spend,” IAB Australia chief executive Vijay Solanki said.

He also said it’s not surprising that the property market, along with automotive and retail, are market leaders, and that real estate has benefitted by using targeted content, personalisation and optimisation to engage audiences online.

“They have built capability across all digital platforms especially in mobile and video,” he said.

“They know how to use content, technology and data to help achieve their marketing goals efficiently."

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