Aussie Challenger Portal Homely Sees 35% Revenue Growth in 2022

The Australian real estate portal Homely.com.au has announced its full-year results for 2022, reporting an impressive 35% annualised revenue growth.

Despite the broader global economic challenges, Homely Group delivered a year-on-year revenue growth of 35% and an increase of 24% in visits to its mobile and web platforms.

According to Homely, the result for the 2022 calendar year reflects the company's focus on delivering value to customers and the strength of strategic alliances it has established within the industry.

The independent portal also reported a 31.4% increase in direct enquiries on property listings, up 18.5% on the previous six months, and a 65.7% increase in signed-in users across all platforms compared with the same period in 2021 while maintaining a 4.7-star rating across Android and iOS apps.

Homely Group Co-Founder and Co-CEO, Jason Spencer, expressed his satisfaction with the results and how the team has overcome the challenges posed by the market and economy.

"Homely Group continues to grow at an exceptional pace, and our recent ranking of third-largest in audience is an indication of the need for our product in the market. These numbers show us both how far we’ve come and the direction we’re heading.”

Homely’s unique value proposition combines online real estate listings with local content, including street and suburb reviews and Q&A from real locals. The company claims to be the largest industry-owned portal in Australia and the third largest overall, with over 655 principals, agents, and agency franchises in its network.

Co-Founder and Co-CEO Adam Spencer believes in that Homely's tech can disrupt a market that has traditionally been dominated by REA Group and Domain.

“This year will be a landmark for the Homely Group as we galvanise our partners, develop an exciting pipeline of new products, and continue to focus on delivering an impressive trajectory of revenue and company growth.” He added, “2023 will be a defining moment in our journey to revolutionise the Australian online real estate marketplace.”