Homely Achieves Resilient 20.5% Revenue Growth in FY23 Despite Challenging Market

Australian challenger portal Homely.com.au grew YoY revenues by 20.5% for the full year, demonstrating resilience in an otherwise quiet Australian real estate market.

Other highlights included:

• Circa 700 industry partners including top-ranking principals, agents and influencers
• 29% increase in direct enquires YoY on property listings
• 51% increase in indirect enquiries YoY
• 39% increase in engaged consumer subscribers in the past 12 months

Homely highlighted its advertising product Homely Plus as being a key contributor to the portal's ability to attract agent signups amid sleepy market conditions, including 35 new offices in the past few weeks.

Jason Spencer (pictured, right), co-founder and co-CEO at Homely, said:

"The real estate industry continues to grapple with uncertainties, yet Homely has 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."

Adam Spencer (pictured, left), co-founder and co-CEO at Homely, said:

"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.

"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.

"We are well on track to create the seismic change we want to see in the Australian property market."

The portal achieved YoY revenue growth of 35% in the previous financial year.

Meanwhile, Homely is the only major portal in Australia to retain traffic to its site since September 2022, with each of its three rivals recording lower visits in June 2023: