CoStar Group, a leading provider of online real estate marketplaces and analytics technology, announced the successful completion of its acquisition of Domain Holdings Australia Limited, one of Australia’s leading property marketplaces. The transformative acquisition combines CoStar Group’s global scale, technology leadership, and pro-agent approach with Domain’s deep expertise and portfolio of trusted Australian property brands.
The acquisition addresses what CoStar identifies as an unbalanced Australian property market dominated by legacy models focused on value extraction rather than delivery. “For too long, agents, buyers and vendors have faced an unbalanced marketplace dominated by an intention to extract value rather than deliver it. Our vision is different. We are building a more compelling user experience at a lower cost – driving greater value for agents, vendors, and buyers alike. We are the agent’s ally, and we will never operate at their expense,” said Andy Florance, Founder and Chief Executive Officer of CoStar Group. (View Highlight)
Domain represents a significant market presence, reaching an average of 7 million Australians each month and standing as one of the country’s most recognized and trusted property platforms. The combination of Domain’s brand strength and local expertise with CoStar Group’s innovation, marketing scale, and investment capacity positions the platform to drive increased competition in the Australian property market.
CoStar plans to apply its proven transformation strategy from the United States market to Australia. “We dismantled market dominance in the U.S. by transforming Homes.com into a true agent-friendly platform, and we are ready to apply that same proven playbook in Australia,” Florance continued. “Agents and vendors are being squeezed by legacy models that raise prices without raising value. That ends here.” (View Highlight)
