Trade Me Claims Deal in Place to Buy Homes.co.nz

February 19, 2021
Share this Post: 

Leading New Zealand horizontal site Trade Me has reportedly reached a conditional deal to buy real estate vertical and data provider Homes.co.nz. According to reports in the country Trade Me will refer the deal to the competition authorities in the next few days and expects to be able to announce more details in the next few months.

Trade Me's Head of Real Estate Alan Clark told local news outlet stuff.co.nz that “Homes has a great suite of tools for New Zealanders interested in property that they've built up over the last few years. As New Zealand’s favourite place for property, Trade Me is always looking for ways to improve and be more useful to Kiwis, so we’re looking forward to Homes being part of Trade Me’s property offering to Kiwis."

Founded in 2014 by current CEO Jamie Kruger Homes.co.nz started out as a data service company but over recent years has developed into a powerful alternative listing site to the two big players Realestate.co.nz and Trade Me's real estate branch. The company employs some 24 people according to Linkedin and is part owned by telecoms company Spark which upped its stake in the firm in 2018.

Since 2018 Trade Me has been owned by British private equity firm APAX Partners who until recently also owned idealista in Spain. If the deal goes ahead it would increase Trade Me's competition with agent-owned Realestate.co.nz which is operated by the 14,000 member Real Estate Institute of New Zealand.

February 19, 2021
Since March 2020 Edmund's job has been to read about, write about, collect data on, analyse and generally know about real estate marketplaces and the companies that run them. Before that he worked at the aggregator Mitula Group (which became Lifull Connect) for five years.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Shutterstock 1932382865
$13 Billion Adevinta Takeover Deal To Go Ahead After 11th Hour Drama

The acquisition bid made by Aurelia Bidco for the Oslo-listed online marketplace operator Adevinta has finally reached the approval threshold...

Read More
Shutterstock 2245599643
Zillow Adds Individual Room Listings to Its Portal

The U.S. real estate portal Zillow has announced the addition of individual room for rent listings to its portal. The...

Read More
Blank 705 X 430 5
Immowelt's German Parent Company Rebranded to 'AVIV Germany'

The local parent company of the German real estate portal Immowelt has changed its name to 'AVIV Germany'. Immowelt is...

Read More
Untitled Design 15
REA Group Sees Strong Domestic Growth in HY1 Results

The Australian real estate marketplace operator REA Group has released its results for the first half of its 2024 financial...

Read More