REA buys flatmates.com.au

REA buys flatmates.com.au
REA buys flatmates.com.au

The property website REA Group has bought Australia’s largest share accommodation website, Flatmates.com.au for $25 million.

The move sees REA, which operates Australia’s largest property portal Realestate.com.au, buy 100% of the Australian business.

It has also agreed to an earn-out with its founders based on an international expansion.

REO Group CEO Tracey Fellows said there was enormous growth in the sharing economy.

"The share accommodation segments in the Australian property market with traffic across the sector growing at over 50 year-on-year." 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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Rea Group Share Accomodation

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