REA Group Announces Organisational Restructure

REA Group, Australia’s largest property website,  has announced organisational structure changes in its pursuit of “simplifying and aligning structure to the Group’s growth agenda”.

The changes, effective from 1 July 2022, will further progress the Group’s strategy to build next-generation marketplaces.

REA Group’s restructuring includes the creation of a new combined Product and Audience Group, led by Melina Cruickshank as new Chief Product & Audience Officer, and a restructured Financial Services and Mortgage Choice arm led by new CEO Anthony Waldron.

Owen Wilson, REO Group CEO said:

“Our Consumer, Customer and Data marketplaces are becoming more interdependent than ever, underpinned by Australia’s largest and most engaged audience of property seekers.

“REA has achieved unrivalled scale with realestate.com.au the clear #1 address for property, and the 6th largest online brand in Australia.

"This large and engaged audience is critical in driving our business, and the connection of the Product, Marketing and Data portfolios will put us in a strong position to deliver our next phase of growth.”

REA posted positive results in Q1 2022, with revenues up more than AU$50m YoY and EBITDA up roughly AU$25m.