REA Group Q1 FY26 results demonstrate the power of premium product adoption and audience value in its latest quarterly performance. The property technology leader reported REA Group (ASX: REA) Q1 FY26 results, showing revenue of AUD 429 million, up 4% year-over-year, alongside EBITDA excluding associates of AUD 254 million, representing a 5% increase for the period ended September 30, 2025. The results demonstrate how strategic yield expansion can mitigate market headwinds, with REA Group’s financial performance driven by customers embracing premium offerings, despite lower listing volumes compared to the robust prior year.
Figure 1: Financial summary showing a 4% revenue rise and 5% EBITDA growth
Yield Growth Compensates for Listing Volume Decline
REA Group Q1 FY26 results reveal a compelling narrative of quality over quantity. Australian revenue reached AUD 405 million, climbing 6% year-over-year, whilst operating EBITDA increased 5% to AUD 254 million. The standout metric was residential Buy yield, which surged 13%, effectively neutralising the 8% decline in national listings.
Figure 2: Residential Buy listings data highlights
Residential revenue increased by 4% from a year ago as multiple strategic drivers gained traction. The 7% average Premiere+ price increase underpinned yield growth, with growth in added-value products and services such as Audience Maximiser and Luxe. Even Subscription revenue expanded with in-depth penetration, so clearly readers were willing to invest in premium positions. Rent revenue was enhanced by increases in the average price, up 6% and depth penetration, partially offset by a decline in listings by 2%.
REA Group Financial Performance Driven by Record Property Audiences
REA Group financial performance solidified its position as Australia’s number one address in property, achieving record audiences during the quarter. The flagship site attracted 12.6 million people on average each month, with 6.7 million people exclusively using the platform. This audience dominance translated to 147.9 million average monthly visits, representing 111.4 million more monthly visits than the nearest competitor.
Engagement statistics were particularly robust on several fronts. REA Group Q1 FY26 results showed buyer enquiries per month averaged 2.7 million over the quarter, a 19% year-on-year hike. Active members were up 10% year-on-year. The number of seller leads rose a phenomenal 35% year-on-year. These KPIs confirm that delivering a better experience for both consumers and agents or developers is working very well at REA Group, which means the benefits of an increased value proposition are being monetised.
Strategic Restructuring in India Operations
REA India’s revenue declined 20% year-over-year to AUD 24 million. Housing core revenue demonstrated modest growth; however, this was more than offset by reductions in adjacency services on Housing Edge and lower PropTiger revenues. The Company executed strategic decisions to sharpen its focus on Housing.com as REA India’s strategic priority.
Figure 3: The team in India was recognised during a business event
In July 2025, REA India entered a binding agreement with listed proptech Company Aurum PropTech Ltd to divest PropTiger in exchange for a 5.5% equity interest in Aurum. The transaction was completed on 25 September 2025, resulting in a non-core gain on the sale of AUD 4 million. Following recent regulatory changes impacting commercial viability, REA India discontinued the Housing Edge business in October 2025. Housing Edge had contributed EBITDA of approximately AUD 12 million in FY25.
iGUIDE Acquisition Enhances Technology Capabilities
REA Group Q1 FY26 results showed that on 10 October 2025, the Company acquired a 61.5% controlling share in Planitar Inc., the maker of iGUIDE, for AUD55 million. About iGUIDE Based in Ontario, Canada, iGUIDE represents, from its proprietary camera and software technologies that make use of disruptive AI capabilities for the identification of property attributes, capturing data to yield 3D immersive virtual tours, floor plans and reliable square footage calculations.
Figure 4: Strategic acquisition of iGUIDE
iGUIDE, consolidated from 1 October 2025, generated revenue of approximately AUD 21 million in FY25 and was broadly EBITDA neutral. This acquisition strengthens REA Group’s technology portfolio and positions the Company to deliver next-generation property visualisation tools to customers and consumers across its markets.
REA Group Q1 FY26 Results Support Positive FY26 Outlook
Australia’s residential property market remains healthy, with strong buyer demand nationally and continued house price growth. Supply has improved in Melbourne and Sydney, supporting strong new listings activity, whilst limited stock in other cities results in some vendors delaying property listings. REA Group’s expectation for national residential Buy listing volumes to be broadly in line with last year’s healthy market remains unchanged.
Figure 5: Office building of REA Group
REA Group financial performance shows a decline in October listing volumes by 3% year-over-year, with Melbourne up 2% and Sydney increasing 6%. The Company continues targeting double-digit residential Buy yield growth, including a 7% national average Premiere+ price rise reflecting additional value delivered to customers and vendors. Positive operating jaws are targeted, with Group core operating expenses expected to increase mid-single-digits. EBITDA losses in India will be impacted by the exit of Housing Edge and are expected to be in the range of AUD 40 million to AUD 45 million.
Market Responds Positively to Strategic Execution
REA Group stock is priced at AUD 210.985, with a bid/offer range of AUD 210.980 to AUD 210.990 per share. The Company has a strong market capitalisation of AUD 27.90 billion, indicating investors’ trust in the market leadership position and growth strategy. The Real Estate technology, or Property Tech, space remains strong as digital adoption in real estate across Australia continues to grow.
Figure 6: One-year share price trend
Contributions from combined associates’ losses are expected to improve modestly compared to the prior year. REA Group’s financial performance remains well-positioned with financial strength, momentum and expertise to capitalise on market opportunities as the Australian property market maintains its healthy trajectory.
Frequently Asked Questions (FAQs)
Q1. When was the REA Group Q1 FY26 earnings call?
REA Group held its Q1 FY26 earnings briefing on 07 November 2025, led by incoming CEO Cameron McIntyre and CFO Janelle Hopkins.
Q2. What drove REA Group’s revenue growth in Q1 FY26?
Revenue growth came from higher pricing and increased uptake of premium products, which successfully offset the year-on-year decline in Australian property listings.
Q3. What is the outlook for listings in the rest of FY26?
Whilst Q1 listings were softer against a strong prior year, management expects easier second-half comparables should see national FY26 listing volumes finish broadly in line with FY25.
Q4. Did REA Group provide any forward-looking statements regarding the property market?
Yes. Management highlighted strong underlying market fundamentals and anticipated that further interest rate cuts would continue supporting buyer demand and national house price growth.
