2333 GMT - Bell Potter now expects REA's property listings to be broadly flat in FY 2026, having previously tipped a 1.3% fall. The revision reflects data showing national new listings grew 13% in June, supported by 3% and 9% growth in Sydney and Melbourne, respectively. Bell Potter raises its price target by 3.0% to A$137.00/share. REA ended Thursday at A$158.71. The bank retains a sell call on REA, controlled by News Corp. "Our thesis rests on REA's share price declining from a reduction in EPS forecasts in-line with market pricing," Bell Potter says. It thinks elevated interest rates could soften demand for lending. Also, recent budget measures hurt property investment as an asset class. News Corp is the parent company of Dow Jones & Co., publisher of The Wall Street Journal and Dow Jones Newswires. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
July 16, 2026 19:33 ET (23:33 GMT)
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