News Corp and realestate.com.au (REA) have partnered to create a “digital property news powerhouse”.
The move sees content from the publisher’s metro, regional and community publications live on REA from early December under a new vertical.
A dedicated national team of real estate News Corp Australia journalists from across Australia will work together with the REA editorial team, to produce national, state and local property market news every day.
REA Group CEO Tracey Fellows says: “We know that Australians are property obsessed and that real estate is not a national experience, it’s local. With more local news content than ever before, people will be able to freely access the latest property news that matters most to them."
Fellows says REA will be filled with content that is anything to do with property, be that property news and information, market insights or "spending hours engaging with property entertainment".
News Corp's 62% stake in REA has proven lucrative, with the property business reporting a 16% rise in revenue in the Q1 of this year. For the quarter ending 30 September, REA’s revenue reached $170 million.
News Corp CEO Michael Miller says: "This deal combines the strengths of both companies and ensures our audiences can access the largest, single source of property and real estate information available online in Australia. This is equally beneficial for advertisers wanting to appeal to this audience and ensures we are able to deliver unique and impactful solutions for our clients in this space."
The new deal will allow REA and News Corp to further tap into Australia's growing addiction to "property porn" - a competitive space with challenger Domain quickly building out its content offering, launching both a magazine and a second series of Avalon Now this year.
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