REA Still Warrants Caution Despite June Volumes

Dow Jones
07/21

0103 GMT - A challenging outlook for Australia's housing market keeps Macquarie analysts cautious on REA Group. They tell clients in a note that the News Corp-controlled real-estate advertiser typically trades at a discount to its long-run valuation against such a backdrop. While REA reported a strong 13% on-year jump in residential listings for June, the Macquarie analysts think this is probably driven by some investors exiting the market ahead of tax reforms. They see volumes being supported by this over the next six months, but still forecast a 6% cumulative drop in listings through fiscal 2029. Macquarie keeps a neutral rating on the stock and raises its target price by 6.5% to 165.00 Australian dollars. Shares are up 1.0% at A$162.84. News Corp is the parent company of Dow Jones & Co., publisher of The Wall Street Journal and Dow Jones Newswires. (stuart.condie@wsj.com)

 

(END) Dow Jones Newswires

July 20, 2026 21:03 ET (01:03 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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